Several factors impact prices, including a naturally occurring “off” year for pecan trees that is even lower because of drought in some places, too much rain in other areas and a late spring freeze.
One of the largest influences on pecan prices is increased international demand, especially from China. “We're competing now in a world market,” Sarris said. “You didn't have that 10 years ago.”
Rising walnut prices drove the Chinese to less expensive pecans for treats for their Mid-Autumn Festival and New Year celebrations, though they are consumed year-round.
In 2007, the Chinese bought 47 million pounds of U.S. pecans, up from less than 1 million pounds in 2003. The Chinese bought more than a third of the 350 million pounds of U.S. pecans grown last year.
The United States produces 80 percent of the world's pecans, with orchards from the Carolinas to California. Peak harvest season is October and November.
Pecan growers planted more acres, given the increased overseas demand that includes the United Kingdom, India and the Middle East, Robison said. In Georgia, about 15,000 acres were planted in the past four years to add to more than 100,000 acres, he said. It takes about 10 years from planting for a pecan tree to produce.
