Nuts

Pecans: let the games begin

November 24, 2022 at 12:57 PM , Der AUDITOR
Play report as audio

ATLANTA. As every year at this time, buyers try to drive down prices in the US pecan market. Experienced growers already know this game and do not get involved, while the new market players sometimes act less prudently.

Familiar dynamics

As usual at this time of year when the harvest is nearing completion, prices are down in the US pecan market. Pecan Report explains that growers are currently soliciting bids from potential buyers. Since the group of buyers, especially the large hullers, is much smaller than the farmers spread throughout the southern US, better arrangements can be made. As a result, prices have fallen despite low stocks. According to Pecan Report, experienced growers are already aware of this dynamic and ignore the development because they are not willing to sell their goods below value. There are, however, some new entrants to the market, some of whom are accepting the low prices, which is lowering farmgate prices overall. All in all, the market is currently quite active.

Most of the goods stay within the country

In the Southeast, too, the harvest is now coming to an end and most growers have decided to store their new produce directly in the cold stores. Only those with limited storage capacity have to sell at least their old goods now to make room for the new crop. Last year, prices had risen during the season as stocks dwindled; farmers and traders are hoping that they, too, will be able to sell their refrigerated goods at better prices at a later date. Much of the US produce is going to domestic traders and shellers, as China, a former major buyer, is increasingly buying pecans in Mexico. Various forganisations are doing a good job of opening up new markets, but here, too, good things take time.

View more
-price charts on nuts, dried fruit, oilseeds, grains and more

View related articles

Go to the News Overview
Nuts
Apr 24, 2024
MANILA. Lower raw material production due to El Niño, rising freight costs and geopolitical tensions are just some of the hurdles the coconut market has to face. Market players are correspondingly cautious.
Nuts
Apr 22, 2024
NEW DELHI/BUENOS AIRES. In India, some states have significantly expanded their peanut cultivation and can now get involved in the market. In Argentina, prices appear to have bottomed out and the outlook in Brazil is anything but optimistic.
Nuts
Apr 22, 2024
REUS/NEW DELHI. The International Nut and Dried Fruit Council has revised the 2022/2023 production estimates for cashews upwards. Yet, prospects for 2024/2025 are far from encouraging. In India the market has started to turn.
Nuts
Apr 18, 2024
BRUSSELS/REUS. Imports from Russia may have declined sharply for pine nuts since 2022, yet the country still holds a key position in the EU. Global production fell sharply in 2023/2024.