If you want to buy pistachios, you have to dig deep into your pockets. Pistachio puree is partly out of stock. This also has to do with a chocolate trend. And the situation could get even worse.
Pistachios contain many ingredients, are delicious as a snack – and expensive. You sometimes have to spend up to four euros on a bag of pistachios. Pistachio butter is considered a luxurious spread that is already out of stock in some places. And a trend toward luxury chocolate is increasing demand even more.
The situation could get worse. There is currently a shortage of stone fruits. Consumers in this country could also feel this, particularly in the next few weeks.
But where does the shortage of pistachios come from? t-online got to the bottom of it all.
Pistachios are a classic imported good. The trees require a lot of sun, so it’s no surprise that the nut is actually native to the Middle East, but is also grown in California. The largest exporter of pistachios in the world is the USA. And here lies a problem for the looming shortage, explains Elaine Reinhard. She works at Mundus Agri, the leading news and trading platform for food and feed raw materials in Germany, and researches the price development of nuts.
“The situation in the USA, the most important supplier of pistachios, is very difficult,” says Reinhard t-online. “It is currently hardly possible to get offers.” Demand has “literally exploded”. Last season, pistachio exports from the USA increased by a total of 43 percent, and to Germany by almost 70 percent.
“As great as this business was for exporters last season, this has greatly reduced the excess inventory,” says Reinhard. In addition, this year is a so-called “off year” in which the pistachio harvest is poor. Last year was an “on-year” or “mast year”.
Last year, 670,000 tons were harvested in the USA; this year, even the most optimistic estimates are significantly lower. According to data from the Mundus Agri platform, production volumes in the USA could only be around 500,000 tonnes – a decline of more than a quarter. The mix of less harvest, low stocks and sharply increased demand is causing prices to rise.
“In view of the fact that prices are rising in the USA, importers in the EU will also have to dig deeper into their pockets,” sums up market expert Reinhard. In addition to the USA, there are other exporters of pistachios – in particular Turkey and Iran. But problems are emerging here too.
Production in Turkey, which is also considered an important pistachio supplier, is countercyclical to that in the USA. This means: This year the harvest in Turkey is very good. Expert Reinhard from Mundus Agri expects “an absolute record”. It is hoped that parts of the limited US supply could be offset by Turkey. “It is quite possible that consumers in the EU will consume more pistachios from Turkey,” says Reinhard.
But: “The farmers here are struggling with the high production costs and the exporters are struggling with the high inflation rate.” Therefore, export prices from Turkey are likely to remain high. Exports from Iran could also increase somewhat; according to Reinhard, the prices are “very attractive”. But there are problems here too: “Importing is difficult due to the sanctions and complicated exchange rate fluctuations.”
This is a rather bad outlook for pistachio lovers. “The Middle East conflict and the economic situation in China, the largest buyer of pistachios, also have a major influence on world market prices. Given the complexity, it is difficult to predict to what extent prices will rise,” says Mundus Agri expert Reinhard .