Pecan Market Update December 2021 Week 50

As the season progresses, we’ve received more information about the crop estimate for the year. As noted in the previous market update, as the harvest continues, the total supply is panning out to be 614 million lbs. The US crop is 289 million lbs, while the Mexican crop is 180 million lbs.

This is another decrease of approximately 34 million lbs., compared to previous predictions, signifying that we can’t be sure of the exact number of crops this season until the harvest is over. We will keep you posted as the season progresses.

Market Conditions

Demand for pecans remains strong, and there are quite a few end-of-the-year shipments lined up. However, as it has been with previous market updates, logistical and harvest delays continue to add pressure and complicate early season shipments.

The latest prediction for the completion of the harvest is now after the new year in the growing western regions. Global consumption increase, delayed harvest, and new crop predictions all have caused the price to increase.

If anyone is interested in future shipments, now’s the time to make contracts. Prices are expected to increase throughout 2022. Due to the current situation between halves and pieces ($1/lb+), it is expected for prices for pieces to increase even further, and halves are likely to approach an all-time high. We will keep you updated on the situation.