The Administrative Committee for Pistachios (ACP) released its shipment report for April 15, 2026, confirming that the 2025/26 season is an on-year in the crop cycle. All figures are reported on an in-shell equivalent basis, using a kernel-to-in-shell ratio of 0.45.
March shipments totaled 102.4 million pounds, up 3.4 per cent year on year and 10.0 per cent above the five-year average. Month on month, shipments declined 3.6 per cent, with export volumes down 9.9 per cent and domestic shipments up 15.5 per cent. Export shipments increased 7.9 per cent year on year, while domestic shipments rose 7.7 per cent.
Crop year-to-date shipments from September through March reached 848.3 million pounds, up 21.1 per cent year on year and 26.8 per cent above the five-year average. Export shipments led growth, increasing 27.2 per cent year on year, while domestic shipments rose 5.8 per cent.
© Administrative Committee for Pistachios
Receipts remained at 1.59 billion pounds through March, indicating completion of harvest supplies at a high level. Adjusted inventory declined to about 1.497 billion pounds, down 0.8 per cent month on month. Estimated marketable inventory reached 648.9 million pounds, down 15.0 per cent month on month, reflecting shipments, processing activity, and inventory adjustments.
Compared with the previous year, marketable inventory is 14.5 per cent higher than March 2024/25, but 33.0 per cent below March 2023/24. The current position reflects lower carryover from the previous off-year and continued shipment activity.
The industry is entering the final quarter of the crop year with declining inventory levels. Market participants indicate that this position may support pricing as the transition approaches an off-year cycle in 2026/27.
Industry sources report stable demand, although the gap compared with the previous year has widened. Some attribute this to demand normalisation, while others point to supply management as sellers aim to control carryover volumes ahead of the next cycle.
© Administrative Committee for Pistachios
Monthly shipment changes are linked to contract timing, supply planning, and logistics rather than demand shifts. Single-month data is monitored for trends rather than as a standalone indicator.
Developments in the Middle East are affecting logistics. Some cargo flows are being redirected, including shipments originally destined for UAE hubs moving to alternative markets. Turkey recorded a 171 per cent increase in March shipments year on year, reflecting higher import demand.
Lower production in Turkey and Iran during the 2025/26 season has limited regional supply. Ongoing disruption is affecting movement patterns, and market participants indicate that extended disruption could lead to increased volatility.
Source: Mintec/Expana
