South African Pecan Prices Find Support from Strong Chinese Demand

South African pecan prices dipped by 5% in August, settling at USD 9.67/kg for pecan kernels in major wholesale markets, with resistance noted at USD 10.00/kg. The export season commenced well, with July exports reaching 4,851 mt. South African production for 2023 is estimated 15% down from the record 31,846 mt in 2022, potentially leading to quick inventory depletion given the smaller crop and ongoing strong export demand. Strong demand, primarily from China, means prices could test the USD 10.00/kg levels again soon.