Pecans stand as a highly consumed fruit nut within the United States, with Georgia ranking as the foremost producer. Anticipations for a decline in production by 8% were set before the hurricane season, yet the advent of Hurricane Helene this September altered projections drastically. Post-storm analyses revealed a loss nearing 36 million pounds for Georgia's pecan growers, accounting for 75% of the anticipated yield for the year.
As a consequence, the market is bracing for a surge in pecan prices during the holiday season, with estimates for pecan half prices hitting between $7-8 per pound. The repercussions of Hurricane Helene extend beyond immediate crop loss, marking a significant setback for the industry due to the devastation of productive trees across approximately 48,000 acres. Despite a forecasted drop in per capita consumption by nearly 24%, the USDA underscores an ongoing disparity between pecan production and demand.
Source: RFD TV