Pecan shipments from US pecan growers are up by 14.03% as of January when compared to the same time period last season.
By January last year handlers had shipped just under 167 million pounds of pecans to buyers for the season, while this year the industry has shipped just over 190 million pounds from September to January.
The 14.03% increase in shipments represents a total increase of 23,404,133 pounds of pecans delivered to buyers. The increase in demand is a welcome sign in the industry however farmgate pecan prices have yet to show any increase over last season.
The American Pecan Council has been working new foreign markets such as Germany and have seen the needle move slightly for pecan demand in those areas. China has also come back to the table to purchase more pecans this season helping to increase overall demand.
This year has seen fewer pecans available for sale to further add to the supply and demand gap as handler inventories have fallen to the lowest levels since reporting began back in the 2018-19 season.
Pecan imports from Mexico are still slightly behind last year, but have been quickly catching up. The overall supply is expected to be down in the coming season as growers in Georgia expect an off year next season.
Western region growers are reported to be holding around 20 million pounds in cold storage that have not been offered onto the market, which if accurate could help fill a portion of the supply gap currently being experienced.
Conference season has kicked off in the pecan industry and growers gathering across the southern US to collaborate and share information about the crop and various improvements available to growers in the industry.
The increase in demand has been welcomed news amongst all growers however, farmgate prices are always the biggest concern and have as of late, been less than desirable.
Many growers have put a portion of their pecans in cold storage in hopes of receiving a better price later in the season as pecan supplies decrease and handlers become more willing to pay higher prices for the limited supply availability.
You can see a full dashboard of the current pecan industry position by clicking the link below.