Pecan Market Update January 2022 Week 2

The FAS reports the value of pecan exports in dollars has declined but not as much during the past few years. Similarly, we've seen that the global volume of pecan exports, in general, has dropped. 

Due to the marketing efforts of the American Pecan Council (APC), we have seen domestic consumption increase greatly, and the growth is expected to continue for some time into the future. 

Based on domestic nut sales, pecans have a lot of potential room to grow. Compared to an almond crop that is roughly 2 billion pounds annually, the 150 million pounds domestic pecan crop production pales in comparison.

Exports for pecans have dropped since the pandemic. With shipping issues and port congestions, exports continue to have trouble over the next few months, or at least until port congestion is mitigated. 

China's re-entry into the market has pushed prices back to above the $2.00 range since the trade war. 

With importers in China's ability to reduce tariffs back to pre-trade war levels, imports have slowly gained momentum back into China.