Pecan Market Update December 2021 Week 49

As mentioned in our previous market update, the estimate for North American crops for 2021-2022 was miscalculated. Unfortunately, it continues to decrease as the harvest progresses. We've seen the Mexican pecan crop decrease to less than 200 million lbs., and the US crop in Georgia is expected to be lower as well.

The harvest in the western growing areas in the United States is late as well, making for complications for the new total supply and shipments.

Market Forecast

Even though the shipping situation worldwide hasn't gotten any better, shipments and demand for pecans remained strong in the previous month. Of course, there is added pressure in the industry due to logistic and harvest delays, and it is expected that this will complicate early season shipping.

Overall, new crop projections and global consumption assessments indicate that the price of the new crop is likely to continue increasing. In fact, it's been projected that prices will continue to do so throughout 2022. It is expected to encompass all pecan products as well as the nuts themselves, regardless of type, size, and variety. We will see how things progress moving forwards.