Pecan Nut Market Update - January 2022
New crop harvest has been further delayed due to rain causing difficulties entering fields with machinery to harvest. Growers in the USA are almost at a point whereby they will be able to evaluate the new crop yield however this has proven difficult to do given the weather. First indicators from growers are that the total crop yield is 20-30% lower than last season – which was to be expected given the conditions in the western areas. New crop pecan prices have seen a rapid price increase since November, mainly driven by taking a longer time to harvest. This may lead to stock availability issues in Europe.
New crop is expected to be harvested from June onwards, with many farmers in belief that new crop yield will be far higher than previous years. This is due to an increase in the number of trees currently in bloom, although it is still very early to say or predict the total yield.
As they have been, South African Pecans still look like a much cheaper option for end users than USA Pecans. This is expected to continue into the new crop harvest in June 2022.