Western Pecan Growers Begin Harvest

Western Pecan Growers Begin Harvest.jpg

It has been a pecan buyers market over the last few weeks, while the eastern US is roughly 70% complete with harvest and Mexico is closer to 80% complete with pecan harvest, China has by in large been non active in the market so far leaving growers very limited options for buyers. The US shellers have been semi active in the pecan market but have also been buying heavily out of Mexico allowing for more downward pressure on the US pecan market. Now Mexican pecans flood the market attempting to sell before the western pecan growers harvest causing an even larger surplus allowing buyers to basically name their price. And that is exactly what is happening. Panicked pecan growers are dumping pecans on the market allowing buyers with cash to purchase at huge discounts. The discount are quite substantial, in fact pecans on the farm are selling for less than half of what they were selling for at the same time last year. Pecan growers seem to be their own worst enemy when it comes to selling their pecans, with little to no cooperation among growers, it would seem that the only thing needed to cause a massive drop in pecan prices is a couple of growers willing to sell dirt cheap, and the rest of the industry will follow suit. The western growers however are not as easily coerced into low prices, most western pecan growers understand that this is the worst time to sell pecans and have already made plans to go directly to cold storage, just as they have in the past. With demand continuing to rise for pecans both domestically and globally, it's only a matter of time before supply runs low and buyers come knocking.