The latest numbers, released this week, show demand for pecans is still up, pushing this season’s total to 7.8 % over last season. The American Pecan Council released the latest global shipments report showing increased consumption of pecans when compared to last season.
The growth in consumption continues to come from the domestic market here in the US. China has increased purchases over last season, however shipments to China are still negligible when compared to previous highs leading up to the trade dispute. While the shipments to China are still quite low, the Asia region is the only export region that has increased imports of pecans from the US over last season.
Currently, according to APC data, pecan exports are down 12.5% over last season during the same time period. Last year by the month of July, US growers and shellers had shipped just over 103 million pounds (46,812 MT) while this year for the same reporting period US growers and shellers have shipped just over 90 million pounds (40,957 MT) representing a decrease of just under 13 million pounds (5,855 MT) or 12.5%. With only one month of reporting left to compile for the season, pecan exports from the US are likely to finish down for the season.
Domestic consumption, on the other hand, continues to be the driver behind the increased pecan shipments. Domestic shipments are up yet again bringing the season total to +17.8% for the season, when compared to last year. Domestic pecan shipments are up just over 37 million pounds ( MT) to 246.5 million pounds for the year. Last year by the same time the US pecan industry had only shipped 312.6 million pounds (MT). The burgeoning market here in the US is expected to be a source of growth for years to come, as many Americans are still learning what a pecan is. While the pecan pie has dominated the landscape for southerners for years, the pecan industry has begun to educate the rest of the country on the pecan and its many versatile and healthy ingredient and snacking options.
The domestic consumption has continued to lead the industry into the black while the global pandemic has pushed exports into the red while buyers and businesses remain cautious in these uncertain times.