Market report - 13 January 2006

 

Iran

The New Year is here which always brings expectations of lower prices. In case of pistachios it is not otherwise. Both Hamburg and Iran prices have dropped down continuing thus in the declining trend which was started by coming of the new harvest into the market.

At the end of the last year there was an inspection by the EU committee. We do not know its results yet – to be published in the next Market Report. Nevertheless and unfortunately, it is quite transparent that the Iran-EU relations are getting to a deadlock, see the Declaration of the Council of the European Union of December 17. We can only hope that this will not bring any negative influence on the mutual business.

As already notified in the previous Market Report our estimations concerning the rejected pistachios have come true. With effect from January 1, 2006 all the rejected deliveries in EU must be returned to the country of origin. Altough this decision is rather radical we are not expecting it will influence the prices pistachios.

The total export of Iranian pistachios in the September-December period amounted approximately 70, 000 mt which, compared with the previous year, represents growth by approx. 40%. The estimated remaining stock for export, after deduction of the domestic production, is roughly 80,000 mt.

USA

The Californian pistachios remain unchanged, we can soon see the prices getting closer to the market reality, though. The price drop should not be as steep as in case of almonds where the prices are falling down on the daily basis.

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