Pecan Market Update February 2022 Week 5

We hear news from the United States that this season's pecan harvest has been delayed even more. Last week we mentioned that early indicators show that the yield is 20 to 30% lower than last year. This week, it has been confirmed. The American Pecan Council also reports that grower shipments are at their lowest level in four years.

Market Updates from the United States, South Africa, and Germany

As we've already reported, there has been a considerable rise in price since the arrival of the new crop back in November 2021. While this is definitely a good indicator for the coming year, the slow harvesting process due to the delays is a concern for most farmers.

USA-origin pecans are currently trading at € 12.40/kg FCA Spain. As Antares Commodities reports, likely, the low crop, high prices, and ongoing supply difficulties will impact stocks and spot market availability in Europe.

There continues to be good news from South Africa with the promise of higher yields due to the increased number of tree flowering. Our mention of South African-origin pecans being lower priced than the US variants is true, and it is expected to continue into the next few months as harvest is complete.

Meanwhile, Germany has increased its pecan imports to 87% in the shipping season of September to November 2021 alone. Most of these shipments came from the United States and the Netherlands, which saw a significant increase of 153% in imports to Germany.