Market report - 29 October 2005

Pistachio market activity (especially in Iran) is at a low level which has impact to pistachio price drop by approximately USD 100/tonne. Nevertheless, the pistachio price drop tendency is not welcome by farmers - producers who were guaranteed higher purchasing price of their production by the government. These are the main reasons for lack of mainly mechanically opened pistachios on the market.

Even though a part of producers have joined the Green Corridor program any real discernible impacts of the program as to aflatoxin content reduction cannot be seen yet, which is a real disappointment for all involved parties.

Although Europe is currently experiencing a shortage of pistachios the prices remain virtually unchanged. We will see the later development of pistachio prices. Generally an opinion prevails that the Iran pistachio prices should further go down.

The other unanswered question is also the long-time prepared amendment to the EU Act on the pistachios which do no pass through the entrance testing. These nonconforming pistachios should be sent back to the supplier as of early 2006. This measure will eventually have an interesting influence on the pistachio price for non-European markets.

The Iranian pistachio future in the unified Europe is becoming increasingly uncertain. Will there be a place in the market for them after all the changes mentioned above...?

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