| YTD Inventory / Shipment Report In Tons | ||
| 11th Marketing Month | Crop: 2025 | 1. Export shipments during the 11th marketing month (23 July–22 August) amounted to 7,000 MT of in-shell equivalent pistachios, 22% less than the 9,000 MT for the same month last year. The decline was mainly attributed to the continued shipping blockade in the Strait of Hormuz. 2. Year-to-date export shipments (Sep. 2025–Aug. 2026) reached 137,000 MT of in-shell equivalent pistachios, showing a 30% decline compared to the same period last year. This decline was largely anticipated given the conflict-related disruptions and operational challenges throughout the marketing year. As a result, year-to-date exports have absorbed only 57% of 2025 crop opening inventory, compared with an average of 70% over the previous four crop years, indicating a significantly slower pace of inventory drawdown this season. 3. The rising share of pistachio kernel shipments in recent months could be attributed to the skyrocketing shipping costs. If shipping costs remain so high, exporting kernels would be more cost efficient compared to in-shell pistachios. 4. Continued depreciation of Rial against foreign currencies, in addition to an upcoming off crop-year, has led suppliers to hold back from offering considerable volumes. Meanwhile, logistical and operational disruptions, coupled with a lack of significant demand, have kept the pistachio market stagnant. 5. The remaining inventory at the end of the 11th marketing month (through 22 August) is estimated at 81,000 MT of Iranian inshell equivalent pistachios (34% of 2025 opening inventory) and is projected to reach 75,000 MT by year-end. This would mark a record-breaking year-end carryover for Iranian pistachios. Since all major producing countries are heading into an off-year, the high carryover of Iranian pistachios may be more of a blessing than a curse. 6. IPA's official pre-harvest forecast for the 2026 Iranian pistachio crop stands at 118,000 MT of dried in-shell pistachios. The new crop is expected to consist of 65% long varieties and 35% round varieties. 7. Harvest of unripe (Kaal) pistachios began in August. The definition of Kaal has broadened from early-picked, blanched, super-green kernels primarily destined for the EU, to a wider range of mid-season varieties with higher yields but less green color, driven by growing demand from the Middle East and India. This year, the price gap between Kaal kernels and mature kernels may narrow down. |
| Carry in from prevoius year | 15,000 | |
| Total Production | 225,000 | |
| Gross Inventory | 240,000 | |
| Domestic Consumption | (22,000) | |
| Export Shipments | (106,000) | |
| Adjustment/losses, Export | (31,000) | |
| Total Consumption | (159,000) | |
| Remaining Inventory | 81,000 | |
| Note : addjustment / losses related to shelling and peeling process of kernels and green kernels. | ||
Current Crop Year
Monthly Report.pdf
Annual Report.pdf