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Iran’s pistachio exports double y/y in 3 months to December

US Rep. Ilhan Omar (D-MN) (L) talks with Speaker of the House Nancy Pelosi (D-CA) during a rally with fellow Democrats before voting on H.R. 1, or the People Act, on the East Steps of the US Capitol on March 08, 2019 in Washington, DC. (AFP photo)
Iran has sold $540 million worth of pistachio shipments in the three months to late December.

Iranian pistachio exports have doubled year on year in the three months to late December as exporters expect even better earnings next year with better crops and surging international demand for the nut.

Head of Iran Pistachio Association (IPA) said on Wednesday that pistachio exports from the country had amounted to 90,000 metric tons in the third calendar quarter ending December 20.

Mohammad Salehi said that the shipments had doubled in volume terms compared to the similar quarter last year, adding that exports had earned the country over $540 million in hard currency revenues.

Salehi said earnings could further surge in the coming months with an expected rise in the price of the Iranian pistachio in the international markets.

“Given the good interest of the foreign customers, the price for the Iranian pistachio will soon increase and we could witness revenues of $10,000 to $15,000 from exports of each ton of pistachio,” Salehi was quoted as saying by the ILNA news agency.

Iran is the largest producer and exporter of pistachio in the world as it normally earns around $1 billion annually from the exports of the nut.

However, better crops and more government support for non-oil exports in recent years have led to a surge in shipments with experts believing the $2-billion target is well in reach this calendar year ending March despite restrictions imposed on trade because of the global spread of the coronavirus pandemic.

Salehi insisted the price of Iranian pistachio in the international markets would rise from the current $6 per kilogram, saying the hike would be a huge boost of morale to pistachio farmers in the country after years of low yields due to drought.

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