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Pecan Prices Climb on the Farm

Now well into the next growing season spot prices for pecans begin to slowly climb. As the North American pecan harvest has commenced back in late January, the Southern hemisphere such South Africa, Australia, and South America including Brazil, Chile, and Argentina are, and now beginning to harvest in their pecan orchards. Pecan prices on the farm have been at their lowest in several years dropping close to $1.00 per in-shell pound. Because the US is the largest consumer and exporter of pecans, the US market sets the tone for the rest of the world. However that changed briefly this year with in-shell prices outside of the US bringing a premium once the US China trade war began. The US Pecan Growers had put in considerable time into developing the Chinese market, however the demand created is now being filled largely by the limited foreign pecan supply. Now with the Mexican pecan supply rumored to be 90% sold out, prices in the US have begun to inch upward. The south African crop is reported to look good and will likely be another “largest ever crop” in fact most foreign countries growing pecans will continue to have their largest crops year after year as the new plantings come into production. With the pecan market projected to grow +/- 6% per year, its is very positive news to see pecan prices inching upward after a significant slump in on the farm prices.