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.
Demand is up but panicked pecan growers continue in-shell selling frenzy as buyers with cash can basically name their price, while the market is flooded with in-shell pecans from both the US and Mexico. The sell of has gotten so bad, even shellers are saying stop.
The US Pecan Growers Council along with the American Pecan Council both track and report the movement of pecans around the world. This is done for a wide variety of reasons; however, one reason is to identify healthy export markets as well as identify opportunities for other export markets that might be a good fit for the pecan.
We wanted to say Happy Thanksgiving, and would like to thank everyone that helps make PECAN REPORT possible. Our thoughts and prayers are with all of the farmers affected by the flooding in Texas and the Hurricane in the Southeast US…
The American Pecan Council has organized a “Pecan-A-Thon” where they will have celebrity host Wendi McLendon-Covey along with food bloggers hosting an online variety show where they will display new and traditional ways of using American Pecans in dishes as well crafts.
The Texas based pecan CO-OP run by DeWayne McCasland owner of Pecans.com and SNT Equipment, has come under much scrutiny by pecan growers from around the US since the CO-OP refuses to pay any of its growers for their pecans for more than five years now, claiming that the “pecan market is dead”.
Pecan growers in the Southeast are in the orchards this morning assessing the damage from the CAT 4 Hurricane Michael that ripped through last night causing excessive winds and dumping large amounts of rain in Georgia, Florida, Alabama and now making its way through the Carolinas.
As the 2018 - 2019 North American pecan harvest gets underway, the Elliot pecan, a favorite among consumers, is turning heads with demand for the tear drop shaped nut continuing to outpace current supply.