Pistachio prices jump 30% as global supply tightens

The move matters less as a pistachio story than as a reminder of how concentrated agricultural supply is: two origins, the US and Iran, and a single supply shock is enough to reprice a commodity by a third within a quarter. The immediate pressure falls on Chinese nut processors and snack makers, who are absorbing cost increases right as year-end demand builds and are already reworking procurement. The open question is whether buyers can substitute origins or reformulate before margins feel it, and whether the Iranian export decline proves temporary or structural.