Pecan Market Update November 2021

The pecan market has been quite busy during this month, with new updates coming along quickly. In addition to the current market conditions, we were able to procure new crop estimates according to major contributing countries to see whether the market forecast corresponds with the updates.

Current Market Conditions

As with every other industry, while shipping is being done with diligence to get orders in on time, there remains pressure on the new harvest. This is definitely causing delays and complications, but shipping went well throughout October, so we can wait and see what will happen.

New Crop Estimates & Market Forecast

As for the market forecast, the North American Crop for 2021-2022 has been reconfirmed. A total supply of 498 million lbs has been reported for this year. The United States crop was 298 million lbs., while the Mexican at 200 million lbs. 

This is, of course, a decrease from earlier predictions, but this is largely due to a calculation error from the Mexican side. However, this is quite typical of the Mexican crop, although it does little to support the current market condition.

The revised crops and delayed harvest has caused prices to increase, but this is related to global consumption. If buyers want an early shipment, it is strongly recommended that contracts be made as soon as possible. As for the prices, we expect to increase until the first quarter of 2022.

Do note that the price hike has been seen across all pecan sizes, pecan halves in particular. It is expected that premium pecans will continue to be in demand throughout the holiday season.