In-shell Pecan Prices Slipping in South Africa

In-shell Pecan Prices Slipping in South Africa.jpg

As the 2018 South African Pecan farmers continue to harvest their crop, growers and exporters alike find the pecan market prices slipping as Chinese pecan buyers offer less than in previous years.

The 2018 global pecan crop is in various stages around the world, currently in the US and Mexico pecan growers are irrigating and spraying the pecan crop to control various insects and other diseases that regularly threaten production. In South Africa and Australia pecan growers are currently harvesting their pecan crop and are a little more than half way complete with this years pecan harvest. The South African pecan crop is mostly consumed by China with exporters sending around 90% of the pecan crop to China. This year has been a little different as Chinese pecan buyers have been offering less for the crop than in previous years. Accumulators in South Africa have been hesitant to accept the lower price offerings, but the Chinese buyers do not seem to be backing down saying they have plenty in stock currently and can afford to wait longer. The Chinese New Year celebration falls on February 5, 2019 and the Chinese will be celebrating the year of the pig.