Pecan Market Update
The 2021/2021 harvest is underway but with many challenges to overcome. We are seeing at present a 2-week delay in crop harvest, and that the crop yield is much lower than expected. The only significant commercial availability arises from Mexico. The larger inshell accumulators who buy form the 1000s of small growers are holding the pecans in an effort to drive raw material pricing higher. This has resulted in the market purchasing very slowly, and other shellers purchasing slowly in an attempt to drive the market price down.
The US Southwest should begin their harvest at the start of December. This area is waiting on the first freeze which will defoliate the trees and dry the husk to activate harvest. When the leaves come off the trees during this period, a more accurate insight will be provided to this key growing region.
- The latest crop estimate reported a US total of 351million inshell pounds
- Mexico imports potentially being as high as 250million inshell pounds