The USDA’s National Agricultural Statistics Service released the latest cold storage numbers for pecans in warehouses across the US. The numbers indicated a 10% decrease when compared the same time last year.
The pecan industry, like most other industries, has been affected by the pandemic, but not as severe as some industries and the recovery has also been swift. While many countries around the world has decreased pecan imports from the US, overall exports are up from last season. Most countries have only slightly decreased pecan imports according to the latest data, but with China increasing pecan imports again, the overall export numbers for pecans is up for the season.
China had been nonexistent in the US pecan marketplace for sometime since the onset of the trade dispute, however with the phase one trade deal, applications for lower pecan tariffs, China has once again begun to purchase. Other countries have only minimally reduced pecan imports, most countries have seen a shift in pecan consumption to online ordering and cooking at home, since the pandemic.
Pecan growers have been holding more pecans as buyers, sellers, shellers, and ingredient buyers work through current inventories. As more pecans begin to come online and into production growers continue to make the shift to selling throughout the year as opposed to selling all their crop at harvest.
Pecan cold storage numbers as reported by the USDA NASS show a 25% decrease in shelled pecan holdings, a less than 1% decrease in in-shell pecan holdings to represent an overall decrease of 10.42% over last year in the same month.
As the industry continues to increase marketing and research efforts demand should continue to increase, hopefully at a pace where supply can keep up.
Read the full report at the link below.