Pecans Market Update January 2022 Week 4

Even though the pecan industry had been quiet for the past few weeks since the new year, we recently received information about the pecan crop for 2022 from various industry leaders. So, let's begin understanding what they're talking about.

United States

From the United States, we're hearing new information that the 2022 crop harvest is going to be delayed due to the rain. It has hindered the entrance of machinery into the fields for harvesting. 

Growers in the United States report that they will be able to present new crop yield numbers, but the only thing holding them back from doing so is the weather. Early indicators show that the total crop yield is 20 to 30% lower than last season's, but this isn't a cause for alarm. It was expected due to the conditions of the Western region of the country.

New crop pecan prices have seen a rapid price increase since November, mainly driven by longer harvest. This may lead to stock availability issues in Europe.

South Africa

Like the States, the South African crop is expected to begin harvest from June with many farmers under the impression that the new crop yield will be much, much higher than previous years. This is because of the increase in the number of trees in bloom, indicating a high yield.

Of course, it is still too early to say anything for sure. However, one thing is certain, South African pecans still look like a cheaper option for users than the American pecans. We will have to see what the June harvest will be like.