Pecans: exports show different trend
February 8, 2023 at 12:33 PM ,
Der AUDITOR
China drives trend
According to Pecan Report US handlers shipped nearly 155 million pounds between September and December 2022, which is around 14.7 million pounds up on last year. Exports, however, show a contrary trend. They not only account for as little as 25 million pounds of the volumes shipped this season so far but also range nearly 18% lower than in the same period last year.
China is the main driver as US shipments have declined sharply by 53% amid the country’s zero-Covid policy. Although this stance has now been abandoned, it is far from certain in how far demand will recover this year. Canada has replaced China as leading export destination for the US as shipments are nominally up. While shipments to the UK have also climbed and a sharp rise has been recorded in shipments to Israel, noted declines have been observed in shipments to Germany, the Netherlands and South Korea.
US pecan exports in 1,000 pounds |
|||
Destination |
2021/22 |
2022/23 |
Diff. |
Canada |
7,125 |
7,153 |
0.4% |
China |
7,310 |
3,456 |
-52.8% |
UK |
2,420 |
2,543 |
5.1% |
Israel |
1,843 |
2,288 |
24.1% |
Germany |
2,392 |
1,948 |
-18.6% |
Netherlands |
2,334 |
1,046 |
-55.2% |
South Korea |
1,186 |
929 |
-21.7% |
France |
940 |
815 |
-13.3% |
Spain |
440 |
605 |
37.5% |
Lithuania |
420 |
504 |
20.0% |
Others |
3,508 |
3,375 |
-3.8% |
Total |
29,918 |
24,653 |
-17.6% |
American Pecan Council, inshell basis, Sep-Dec |
Run on supplies
As the position report for December issued by the American Pecan Council shows handler inventories range 31% lower than last year, meaning that more imports may be required in the next few months. Imports from Mexico have indeed picked up this season and range 42% higher than last year at 5.43 million pounds (inshell basis). Crop receipts have, however, risen on last year to 53.55 million pounds. Although the growth in domestic demand is welcome news for the industry, growers are struggling to step up production as it takes around seven years for trees to become commercially productive.
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