The American Pecan Council (APC) released its shipment report for January 2026, the fifth month of the 2025/26 marketing year. Volumes are reported on an in-shell equivalent basis, with kernel weights converted using a 2.0 normalization factor to account for the mix of in-shell and shelled product.
From a supply perspective, January receipts totaled 73.4 million pounds, an increase of 82% month over month compared with December's 40.4 million pounds. Receipts were also 24% higher than January 2025 at 59.2 million pounds and 24% above the five-year January average of 59.4 million pounds. Industry participants said January receipts were the largest for the first month of the calendar year since the marketing order began. The increase was linked to returns from western growing regions, where harvest activity usually finishes later in the season.
© American Pecan Council
Season-to-date receipts through January totaled 179.5 million pounds, up 9% year over year from 164.0 million pounds. This level remains 2% below the five-year September to January average of 184.0 million pounds. Improved pecans represented 87% of receipts during the period, with native pecans accounting for 5% and substandard material for 8%.
Industry participants said earlier season supply constraints were related to weather events. Hurricanes in late 2024 caused orchard damage in parts of the southeast United States, while drought conditions in U.S. and Mexican production areas during the 2025 growing season affected crop development and harvest volumes.
Total inventory at the end of January reached 205.2 million pounds, an increase of 55% month over month from December's 132.5 million pounds. Inventories were 5% above January 2025 levels but 8% below the five-year average of 223.9 million pounds. Shelled product accounted for 41% of total inventory, with in-shell product representing 59%.
From a demand perspective, January shipments totaled 21.6 million pounds. This represents a decline of 35% year over year and 45% below the five-year January average of 39.5 million pounds. Domestic shipments accounted for 16.0 million pounds, or 74.2% of volume, while exports totaled 5.6 million pounds.
© American Pecan Council
Cumulative shipments during the first five months of the marketing year reached 168.9 million pounds, down 12% year over year from 192.1 million pounds and 19% below the five-year average. Domestic shipments totaled 141.6 million pounds, and exports totaled 27.3 million pounds. Export shipments to the Middle East reached 1.7 million pounds in January and 5.7 million pounds year to date.
Commitments, representing nuts booked but not yet shipped, reached 225.6 million pounds at the end of January, while the net position remained negative at −20.3 million pounds, meaning contracted volumes exceeded available inventory. Industry participants said the market remains dependent on receipts during February and March to meet near-term commitments.
Source: Mintec/Expana
