This year's pecan harvest in Georgia will likely be lighter than anticipated due to recent wet weather. Prices are currently favorable for growers, but the market could get even better if Chinese buyers abandon their current cautious approach.“I would say the crop will be between 20 and 25 percent smaller than what we expected,” said Will Easterlin of Easterlin Pecan Company. “We've had wet weather the last 10 days that delayed the harvest. We've also had some quality issues that were unforeseen that will probably make the crop not as big as expected.” Prices have been between $2.00 and $2.60 per pound, inshell, but they would be better were it not for less demand overseas.
“China contracted a lot pre-harvest, but they're not buying as much at the moment,” said Easterlin. “Their cautious mood has a lot to do with the economy and currency. There's less consumption and the exchange rate has made it more expensive to buy.” China buys about 30 percent of the U.S. pecan crop every year, so even a modest bump in sales from China would have a significant effect on the market.
“China is the wild card,” said Easterlin. “If they stay cautious, the market stays the same. But if they come in fast and hard, the market will strengthen up.”
For more information:
Will Easterlin
Easterlin Pecan Company
+1 478 472 7731