Economy, Domestic Economy
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Q1 Pistachio Export Value Up 27%

Q1 Pistachio Export Value Up 27%Q1 Pistachio Export Value Up 27%

More than 16,360 tons of pistachios worth over $137 million were exported during the first quarter of the current Iranian year (started March 20), the Islamic Republic of Iran Customs Administration’s latest statistics showed.

The figure shows a 26% rise in terms of weight and 27% growth in value compared to the last year’s corresponding period, Eranco reported.  

The UAE, Germany, Turkey, Iraq, India, Jordan, Spain, Hong Kong, Kazakhstan and Afghanistan are the main export destinations for the Iranian delicacy.

Last year’s (March 2015-16) exports stood at 118,000 tons worth over $1.2 billion, which showed a 34% and 24% decline in volume and value respectively compared with a year before.

Iran and the US account for 70-80% of the world’s pistachio production. The two countries have been vying for the top producer and exporter spot for the past few years.

Iran, which has been a pistachio producer since the 5th century BC, managed to regain the position of top producer last year for the first time since 2008, after record crops in the two years to 2015.

In sharp contrast, the 2015 harvest in California, which accounts for most of the US output, almost halved to a little more than 124,700 tons—the lowest in almost a decade—due to adverse weather.

A total of 500,000 tons of pistachios is expected to be produced by the US and Iran this crop year, the president of Iran Chamber of Commerce, Industries, Mines and Agriculture said earlier.

Mohsen Jalalpour also anticipates that 170,000 tons of the sum will be grown by Iranians. He believes that it takes careful planning to ensure Iran does not lose its pistachio markets to Americans.

“A bumper harvest is projected for the US this year. In addition, a fraction of their last year’s carryover remains unsold so they are bound to reduce their pistachio prices,” he said.

Financialtribune.com