Pecan inventories have been trending off for the season as demand has increased over the last few years. Growers have been working to increase production but the demand is currently outpacing production.
Handlers have been importing pecans in order to keep orders filled, however this is also falling behind and pecan inventories have been trending an average of 30 percent lower this season when compared to last season.
September of each year is the start of the season for the US and North America and when we begin our harvest season. September started off with around 130 million pounds of in-shell, down nearly 60 million pounds from the previous season. October continued the trend and so has each month since.
September was down 31.37% followed with a jump in October to off by just over 37%. November inventories were down 30.73% and then December relaxed the gap a little only coming in at 21.33% lower than the previous season.
January, February and March have picked up with a larger gap going back up to around 30% lower than the previous year. This trend is expected to continue for some time into the future as growers continue to plant new orchards in an effort to close the gap over time. However with demand increasing the pressure is on.