The wholesale price of in-shell pistachios has climbed by 20% in the last 18 months to $4.57 a pound, and the Iran war is expected to send prices even higher. (Shutterstock)
Share
|
Getting your Trinity Audio player ready...
|
The war in Iran is pushing pistachio prices upward, and that could benefit Central Valley farmers.
Iran once was the dominant global supplier of pistachios, but California growers of the nut ascended following the Iranian Revolution of 1979, as sanctions blocked the country from many of its biggest markets.
The key trigger in America’s rise to pistachio supremacy: a 241% tariff in 1986 that ended Iranian imports to the United States.
Now with shipping restricted in the Strait of Hormuz, Iran’s pistachios have even fewer places to go.
“With this war, it’s going to limit what Iran is able to do, able to ship, to customers in Europe and China,” Adam Orandi, who farms 1,600 acres of pistachio orchards in the San Joaquin Valley, told The New York Times.
As Iran’s share of the global pistachio supply has shrunk from 50% to 18% over the past two decades, Central Valley growers have expanded their acreage. California growers produced a state-record 1.6 billion pounds last year, and the U.S. Department of Agriculture reports that the U.S. now grows 65% of the world’s pistachios.
By 2031, California’s pistachio production could eclipse more than two billion pounds despite the state’s water challenges.
Meanwhile, moneycontrol.com reports that according to industry data cited by Global Agriculture, global pistachio prices have surged by more than 50%.
The wholesale price of in-shell pistachios has climbed by 20% in the last 18 months to $4.57 a pound, The Times reported.
Thus, just as the war in Iran has turbocharged gas and diesel prices, it is spiking the cost for folks who love to munch on pistachios, too.





