Market info - Pecans
Pecans
In its recently published inventory report, the American Pecan Council (APC) states that growers' delieveries to traders and processors increased by an impressive 36% year-on-year. This is due to favourable farmgate prices as well as higher domestic demand, which can be attributed to successful marketing campaigns. The buying interest from overseas is also impressive. China's re-entry into the market is an important contributor to this; following the reduction of customs duties, Chinese traders are increasingly buying US in-shell pecans and have thus prevented a decline in US exports.
On the contrary, according to Pecan Report, the season ends with an increase in shipments of just over 24% year-on-year, meaning that a good 41,000 mt more pecans were shipped domestically and overseas than in the 2019/20 season. Total shipments amount to just over 211,000 mt. Of these, more than 156,000 mt were destined for domestic consumption, which increased by just under 35,000 mt. In order to cover the higher consumption, growers are working diligently to increase their acreages and replace old trees.
Prices on the European spot market have been stable for several weeks.