Business
Delicious looking pistachio nuts
Getty Images
OPENING UP

America’s pistachio production is booming

Consumers at home and abroad are shelling out for pistachios — and America’s farmers are turning to the hardier crop in response.

Millie Giles

America has long held a love for all things pistachio, with the shelled nut, or at least some derivative of it, being added to Starbucks beverages, Disneyland Dole Whips, and even cult fragrances. Now, US farmers are riding the surge in demand, with pistachios becoming California’s sixth-largest agricultural commodity (by value), beating out tomatoes, carrots, and strawberries over the past decade.

Tough nuts

For centuries a mainstay of Italian cooking, pistachios have taken off in the US recently — and, as public interest has mounted, farmers in California, where more than three-quarters of America’s fruit and nuts are grown, have turned to the hardier pistachio tree over more sensitive crops.

Pistachio production
Sherwood News | Note: Pistachios and walnuts measured on an in-shell basis, almonds measured on a shell basis

In the 2023-24 season, the US produced almost 676,000 metric tons of pistachios, up 69% from the year prior, compared with a 9% increase in walnut production and a 4% decline in almond production over the same period. Though much of America’s pistachio haul ends up in international markets — US shipments to China nearly doubled last year — the reasons behind the pivot are closer to home soil.

Looking at California in particular, pistachio crops generated almost $3 billion in the state last year, according to the CDFA. That same year, almonds brought in $3.9 billion… down significantly from 2019-20, when the crop generated some ~$6 billion.

For a long time the darling of California’s nut exports, almond production has waned as rising temperatures, volatile rainfall, and droughts have become increasingly common in the state, making the water-intensive crop less appealing. By contrast, pistachio trees are estimated to require ~1,200 cubic meters less water per acre than almond trees, and can also go for longer without water — an attractive proposition to those grappling with California’s groundwater-use limits.

But, as farmers look to cash in on green gold, they’ll likely take lessons from last decade’s almond boom: a postpandemic glut of almonds saw prices for the commodity drop to a 20-year low in 2022.

More Business

See all Business
9.3%

As the war with Iran produces the biggest spike in US gas prices since Hurricane Katrina, car retailer CarMax is continuing to see heightened interest in EVs, hybrids, and plug-in hybrids.

“From Feb 1st - March 1st (inclusive), compared to March 2nd to March 15th (inclusive), we saw a 9.3% lift in page views for these vehicles,” a spokesperson for the company told Sherwood News.

As industry insiders recently told us, EV interest climbs when gas prices rise. That appears to be holding true even without EV tax credits, which the Trump administration ended under its new budget package.

CarMax also saw EV searches spike in 2022, amid Russia’s invasion of Ukraine and the resulting oil price spike.

Walt Disney Chairman And CEO Bob Iger Rings Opening Bell At NY Stock Exchange

It’s the end of Disney’s Iger era (again)

Incoming CEO Josh D’Amaro is replacing Bob Iger on Wednesday, though Iger will remain a senior adviser through the end of the year.

$35.4B

The tariffs imposed by the Trump administration have cost automakers at least $35.4 billion since the start of 2025, according to a new analysis by Automotive News.

That total will continue to climb this year, since the Supreme Court’s February tariff ruling largely leaves the 25% levy on vehicles and auto parts untouched.

Toyota has taken the biggest hit, projecting more than $9 billion in tariff costs in its fiscal year ending this month, while Detroit’s big three automakers — Ford, GM, and Stellantis — were hit with a combined $6.5 billion tariff charge in 2025.

In the fourth quarter, automakers sold about 8% fewer imported vehicles in the US compared to the same period a year ago, per the Automotive News Research & Data Center.

Tariff charges come at a rough time for legacy carmakers, which are also scaling back EV plans following the Trump administration’s elimination of tax credits and fuel standard goals. According to Automotive News, the cost of EV write-downs and restructuring is, so far, nearly $70 billion.

Universal Studios Orlando Theme Park

Universal Studios is giving theaters a longer minimum exclusive run

Universal will now guarantee a minimum of five weekends before a movie hits home screens — which might help theater companies like AMC finally get back to profitability.

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, Robinhood Derivatives, LLC, or Robinhood Money, LLC. Futures and event contracts are offered through Robinhood Derivatives, LLC.