The USDA’s National Agricultural Statistics Service (NASS) released the October pecan cold storage holdings in the US, and the total pecans in cold storage dropped nearly 20% from last month.

 

However, the news is not all bad, the holdings are actually up from the same time last year. Last year during this same time in the pecan harvest season, growers in the southeastern US were just getting back into rain soaked orchards to begin clean up from downed trees and limbs on a scale never before seen in the area. 

 

Hurricane Michael eliminated nearly half of the southeastern pecan crop last year, causing many area pecan buyers to turn to other states to find their pecans. While others simply had to do without. 

 

The pecan market has been experiencing tremendous growth on the demand side, while the supply side of the equation attempts to keep pace. Southeastern area growers will again see the effects of the massive hurricane that ripped through the area, with pecan production in the affected areas down by nearly half. 

 

The pecan market has not slowed due to the hurricane, as pecan exports and imports continue to break records monthly. As the western US gets into harvest season buyers and growers alike are hopeful that the western crop will be enough to carry the industry through until next years harvest season. 

 

Buyers have been far more active this year, as the crop continues to come up short. China, has been more active in the US market this year despite the 47% tariff imposed on pecans. While exports to China are down, buying activity has been better this year, as many Chinese pecan buyers prefer the larger varieties from Georgia and the surrounding areas. 

To see the full Pecan Cold Storage Report click the image above.