Pecan producers continue to feel the sting of suppressed market prices, according to recent data generated from the U.S. Department of Agriculture (USDA) Economic Research Service.
It noted in its Fruit and Tree Nuts Outlook: March 2023, the average grower price for pecans fell from an already low price of $2.16 per pound in 2021 to $1.79 per pound in 2022. The value of utilized pecan production was more than $492.5 million in 2022, an 11% decline from the previous year but above annual values reported in 2018, 2019 and 2020.
U.S. pecan bearing acreage declined 0.7% in 2022.
The USDA National Agricultural Statistics Service reported in January the country’s pecan production for the 2022/23 marketing season was at 274.5 million pounds, a decrease of 6% from the October 2022 forecast of 290.5 million pounds but 8% above the previous year.
Georgia and New Mexico remain the top pecan-producing states, accounting for 74% of utilized production in 2022. Increased production in those two states made up for production decreases in other states like Arizona (down 10%), Texas (down 29%) and Oklahoma (down 33%).
Pecans were also included in the report that indicated tree nut exports are forecast to decline in fiscal year (FY)2023. In the first quarter of FY2023, export value was down for all major tree nut crops. The last time the first quarter export value for almonds, pistachios, walnuts, hazelnuts and pecans was lower than FY2023 was October-December 2010.