The global economic shutdown has wreaked havoc in various industries and slowed economic growth for all countries. The pecan industry is of course not immune to the global pandemic and the resulting economic turmoil, however it does seem to be handling the shutdown better than other industries, at least for now.
American pecan growers put their heads together to better market pecans around the globe and in 2016 officially formed a federal marketing order known as the American Pecan Council. The council, while only fully operational for about 3 years now, has undertaken the task of growing awareness and demand for American Pecans both domestically and globally.
Just prior to the US China trade dispute the American pecan growers had identified the US market as being one the untapped markets to increase marketing efforts. As the China US trade dispute all but halted pecan shipments to China, the American growers were able to find new growth in the domestic market and keep shipments of pecans headed to consumers.
In fact the domestic market has been the source of growth for the last two years. Where China was once the largest foriegn buyer of American pecans that title has shifted now to the European Union which has been a consistent buyer for years now. But there is still hope for China-US relations as the phase one trade deal offers hope of rekindling pecan trading partners between the two countries.
For now the domestic demand is the engine that continues to drive growth in the American pecan industry. As the latest pecan industry position report overall demand for pecans is still outpacing last year’s record highs. To date for the current crop season pecan growers have experienced a 10% increase of pecan shipments over the same time last year. * While exports have lagged behind last year’s dismal numbers domestic growth continues to drive the global pecan industry.
* Totals are based on APC adjusted totals and not totals as reported by month. APC adjust amounts periodically without notice. Data is based on most current adjusted figures. See table by clicking the information icon for more information.