Record high pecan prices that have driven down consumption for the past three years may finally be moderating, said Paul Joseph, vice president of sales for the South Georgia Pecan Co., Valdosta, Ga.
“There are quite a few nuts in cold storage, and we’re getting indications that Chinese importers are holding onto nuts they bought last year, which will help take some pressure off the market from their side,” he said.
He anticipates pecan prices in the $5.50 to $6 range this year, “which should help retail sales quite a bit.”
Pistachio growers in California, Arizona and New Mexico are anticipating their largest crop in history, said Richard Matoian, executive director of Fresno, Calif.-based American Pistachio Growers.
Matoian expected the harvest, primarily in California, to begin in earnest in mid-September and continue until mid-October.
“The original crop estimate was close to 600 million pounds, but now it looks closer to 550-575 million pounds. Last year we were at 448 million pounds, and the previous year was a record 528 million pounds,” he said.
“While the price point is a little higher compared to other tree nuts, we have tremendous demand domestically and around the world and consumers are still gobbling them up,” Matoian said.