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Delicious looking pistachio nuts
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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.

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Electronic Arts launches a platform to put more ads in its games

Video game publishing giant EA launched a new platform on Monday designed to make the process of selling immersive ad space in its popular games easier.

The company says the platform, called EA Advertising, allows brands to “integrate directly into gameplay through dynamic, real-time placements, from stadium signage to custom in-game content.”

More so than other studios, EA has incorporated advertising into its most popular titles. As Kotaku points out, the company’s ad efforts stretch as far back as 2006. Several of its sports franchises already feature partnerships with brands like Visa, Lowe’s, Red Bull, and PepsiCo.

In-game advertising hasn’t exactly been embraced by fans, but industry experts expect it to ramp up as companies seek more revenue to offset higher games budgets and surging memory costs. EA rival Take-Two has taken a different approach, with CEO Strauss Zelnick recently saying the company was “not at risk of doing brand partnerships” in the forthcoming “Grand Theft Auto VI,” and that ads in full-price games seems “unfair.”

The $55 billion deal to take EA private, led by Saudi Arabia’s Public Investment Fund, is set to close at the end of this month. Being the largest leveraged buyout in history, EA will likely look for more ways to boost revenue to cover interest payments.

More so than other studios, EA has incorporated advertising into its most popular titles. As Kotaku points out, the company’s ad efforts stretch as far back as 2006. Several of its sports franchises already feature partnerships with brands like Visa, Lowe’s, Red Bull, and PepsiCo.

In-game advertising hasn’t exactly been embraced by fans, but industry experts expect it to ramp up as companies seek more revenue to offset higher games budgets and surging memory costs. EA rival Take-Two has taken a different approach, with CEO Strauss Zelnick recently saying the company was “not at risk of doing brand partnerships” in the forthcoming “Grand Theft Auto VI,” and that ads in full-price games seems “unfair.”

The $55 billion deal to take EA private, led by Saudi Arabia’s Public Investment Fund, is set to close at the end of this month. Being the largest leveraged buyout in history, EA will likely look for more ways to boost revenue to cover interest payments.

business

JM Smucker says it sold $1 billion worth of Uncrustables in FY2026

After years of booming sandwich sales, JM Smucker has finally earned a billion-dollar crust.

On Tuesday, the company reported results for fiscal year 2026, highlighting better-than-expected profits driven by higher prices for coffee and sweet baked goods. However, at another point on the earnings call, CEO Mark Smucker pointed to one particularly jammy figure: in line with previous forecasts, the company sold $1 billion worth of its (almost always) crustless sandwiches, Uncrustables, in the last year alone.

business

Paramount reportedly offers concessions to resolve multistate antitrust investigation

Paramount has reportedly offered up some concessions in an effort to prevent an antitrust lawsuit by California and about 10 other states, according to Bloomberg reporting on Monday.

Reuters first reported on the potential suit from a group of unnamed states last week, which could throw a wrench in Paramount’s plans to buy rival Warner Bros. Discovery in a Hollywood megamerger.

The list of concessions is unknown, though Bloomberg previously reported that Paramount is open to divesting some of its kids TV assets to appease EU regulators.

Late last month, reports said US regulators appeared likely to approve the $110 billion merger, following a meeting between Paramount CEO David Ellison and DOJ antitrust staffers.

The list of concessions is unknown, though Bloomberg previously reported that Paramount is open to divesting some of its kids TV assets to appease EU regulators.

Late last month, reports said US regulators appeared likely to approve the $110 billion merger, following a meeting between Paramount CEO David Ellison and DOJ antitrust staffers.

$98B ⛽

The IATA released its latest financial outlook for the airline industry over the weekend, forecasting a $98 billion jump in the sector’s collective fuel bill. The world’s largest trade group representing airlines expects the oil spike to halve profits by 49% from last year to $23 billion.

The group also expects profit margins to halve year over year, falling from 2025’s 4.2% to 2%. Still, revenue is expected to climb to $1.17 trillion from $1.07 trillion.

A surge in the cost of jet fuel has rocked US and global airlines this year, leading Delta Air Lines, United Airlines, American Airlines, Southwest Airlines, JetBlue, and others to raise fares and ancillary charges like bag fees. Low-cost carriers, which operate on smaller margins, have been squeezed the hardest, resulting in Spirit’s shutdown.

“It’s a tough year for all airlines, especially those whose balance sheets had not yet recovered from COVID. And, of course, for those operating in the Gulf,” said IATA Director General Willie Walsh, who added that demand is holding up and about half of passengers expect to spend more on travel this year. “That bodes well for a strong northern summer peak season. The big unknown is how long travelers and shippers can tolerate the higher costs of connectivity.”

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