Pecan shipments continue to rise in the fourth quarter of 2018. While we wait for pecan shipment data from December of 2018, the APC has already released pecan shipment reports for September, October and November of 2018 and the data is positive.
The global pecan market has been in a bit of turmoil over the last few months with pecan prices dipping to 3 year lows in multiple pecan products. The shelled pecan meat prices have fared better than the in-shell pecan market over the past months but that too is now dropping more dramatically.
The pecan market has been on a bit of a roller coaster ride over the past few years with demand skyrocketing faster than pecan producers can plant new acreage. However the end of 2018 brought prices back into check when the trade war between China and the US escalated resulting in a 571% increase in the tariff paid on pecans entering the Chinese market when of US origin.
The American Pecan Council released its monthly pecan position report. In the pecan report you will find information for US Pecans exports as well as pecan imports into the US. The report shows just under 3 million pounds of in-shell pecans being shipped to Hong Kong, the first of the season to be shipped to China from the US.
If you ask pecan growers about the current market conditions you will get a variety of responses, most of which seem to be unfavorable. With pecan prices on the farm at 10 year lows, you would expect this type of response.