What has caused the pistachio supply shock from Iran?

An internet shutdown in Iran has prevented companies from contacting suppliers and exporting pistachios, leading to supply chain disruptions and extreme price fluctuations.

How are major food companies coping with the pistachio shortage?

Large companies like Lindt and Magnum are not experiencing supply strains because they secure nuts from various regions, including the US, Turkey, and Sicily, through long-term contracts.

What is the outlook for food prices in the UK?

UK food retailers have warned of potential sales shortfalls, and industry forecasts predict food inflation to rise by at least 9% by Christmas.

Home / Business and Economy / Iran's 'Green Gold' Locked Down: Nuts Stuck, Prices Spike

Iran's 'Green Gold' Locked Down: Nuts Stuck, Prices Spike

24 Apr

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Summary

Iranian internet shutdown prevents pistachio sales, causing extreme price fluctuations.
Global demand for pistachios is high due to viral trends and Middle East conflict.
Major food companies secure pistachio supplies via long-term contracts from other regions.

Iran's 'Green Gold' Locked Down: Nuts Stuck, Prices Spike

A severe internet shutdown in Iran has created a significant disruption for the global pistachio market. Companies like Borna Foods, a supplier to UK retailers, are unable to contact their Iranian suppliers, leading to unpredictable and extreme price fluctuations for the nut, often referred to as 'green gold'.

Iran, the world's second-largest pistachio producer, is experiencing this supply shock as demand rises due to viral food trends and ongoing Middle East conflict. This situation has pushed pistachio prices to an eight-year high. For businesses relying on Iranian pistachios, particularly those valued for their high oil content, sourcing alternatives from the US is problematic due to differences in oil content.