90% of South African pecans are sold to China; reduced production in the northern hemisphere may push prices higher

Published 2024년 9월 24일

Tridge summary

The pecan harvest in the southern hemisphere is almost complete, with South Africa producing 30,000 tons, 90% of which is purchased by China. Meanwhile, the U.S. and northern Mexico are facing lower yields due to high temperatures and drought, potentially reducing production by 5%-10%. Although pecan prices are currently stable, they may rise if these crop reductions are confirmed. The U.S. anticipates a slight increase in production and stronger prices due to higher demand as consumers opt for pecans over more expensive almonds and walnuts. Additionally, U.S. exports to China have surged, driven by lower domestic prices and decreased South African production.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Experts from Chelmer Foods cited information from the Mexican company Pecaninis that the pecan harvest in the southern hemisphere is now coming to an end, with the harvest rate exceeding 90% of the total production, of which South Africa accounts for about 70%, or 30,000 tons. China is the main buyer of South African pecans, purchasing 90% of the total production at an average price of US$5/kg, and the last batch of goods is expected to arrive in China in early October. China is one of the world's largest consumers of pecans, and the Chinese New Year in 2025 will begin on January 29, which coincides with the growing demand for pecans during the Spring Festival. In the southern United States and northern Mexico, the harvest is expected to start in late September or early October, but many local planting areas have reported lower yields per unit area. Due to the high temperatures and drought from March to May, it is expected to be the same as the Compared with the 2023/24 season, ...

Source: Foodmate