| YTD Inventory / Shipment Report In Tons | ||
| 7th Marketing Month | Crop: 2025 | 1. Export shipments during the 7th marketing month (21 March–20 April) reached 7,000 MT of inshell equivalent pistachios, marking a 113% increase compared to the same period last year (3,000 MT). This growth occurred despite unprecedented restrictions on Iranian pistachio trade. Monthly export exceeded expectations, as this period coincides with the Iranian New Year holidays, when shipments are few. It is likely that part of this month's exports was delayed shipments due to war-related disruptions during previous month. 2. Given the shipment blockade in Strait of Hormuz, the CIS countries accounted for the largest share of Iranian pistachio monthly exports, followed by Türkiye – mainly a Re-Export hub – and the Indian subcontinent ranking as the next top destinations, respectively. 3. Year-to-date export shipments (Sep. 2025 - Apr. 2026) capped at 109,000 MT of inshell equivalent pistachios, representing a 26% decrease compared with the previous year. The year-to-date export-to-opening-inventory ratio stands at 45%, compared to 64% for the previous year and 56% five-year average (2020-2024). 4. Exports to Türkiye, the CIS, and the Indian subcontinent remain strong, with their market share increasing year-on-year. In contrast, the Far East has experienced a significant decline, with its share from year-to-date Iranian pistachio exports falling from 25% last marketing year to 8% this year. 5. Due to hostilities and halt of shipments to kernel-consuming destinations such as the UAE and other Persian Gulf countries, the share of kernel exports from total exports declined after peaking at 57% in the fifth marketing month, falling to 42% in the sixth month and remaining subdued at 43% in the seventh month. Under normal conditions, the average share of kernel shipments from total exports for the full marketing year should have surpassed the 50% mark for the first time. However, because of the war, we expect this ratio to remain below 50% for the full year, though still higher than the four-year average of 41%. 6. Expectations around the upcoming 2026 off crop, uncertainty over export flows in the face of regional disruptions, and slow supply of the 2025 Iranian crop—due to pistachios being considered as an inflation hedge—have all contributed to an increase in global pistachio prices compared with pre-war levels. 7. The remaining inventory at the end of the 7th marketing month is estimated at 114,000 MT of in-shell pistachios, which will translate into an unprecedented carry-over at the end of the marketing year. The ongoing day-to-day operational challenges, along with uncertainties arising from the shaky ceasefire, are expected to limit the exports in the future. |
| Carry in from prevoius year | 15,000 | |
| Total Production | 225,000 | |
| Gross Inventory | 240,000 | |
| Domestic Consumption | (17,000) | |
| Export Shipments | (86,000) | |
| Adjustment/losses, Export | (23,000) | |
| Total Consumption | (126,000) | |
| Remaining Inventory | 114,000 | |
| Note : addjustment / losses related to shelling and peeling process of kernels and green kernels. | ||
Current Crop Year
Monthly Report.pdf
Annual Report.pdf