California pistachio growers are facing a multimillion-dollar reduction in revenue due to unprecedented heat this spring in the San Joaquin Valley.
The crop damage is also expected to affect customers, who will now see higher prices, according to Wonderful Pistachios & Almonds, the world’s largest pistachio grower. Michael Hohmann, chief financial officer and executive vice president of the Los Angeles-headquartered company, said in a Monday news release that the company is working to keep the cost increase as small as possible.
“This is a measured adjustment to maintain stability across the category while supporting growers behind it,” Hohmann said. “The price that consumers are going to see will not be as significant as what the farmers will have lost.”…