The American Pecan Council released the end of year pecan inventory report last week depicting the pecan inventory as of August 31, 2019. The end of August is the official end of the pecan season for each year.
The year end inventory report show some interesting data about the pecan industry. The inventory report shows the quantity of pecans already sold but not yet delivered (committed) and the different types of pecans in cold storage along with work in progress (W-I-P).
The numbers are quite encouraging on the demand side of the equation with a mere 36.61% of total pecan inventory not already sold. This of course means that the remaining 63.39% of pecans in inventory are already sold and awaiting delivery.
Pecan halves are another bright spot in the data with a current shortage of nearly 2 million pounds on hand, however the current in-shell inventory is enough to handle the current shortage with ample pecans left over.
The current domestic consumption of pecan inventory is another bright spot in the data, with more than half of the current pecan inventory committed to the domestic market. Exports commitments only make up 6% of total inventory. As a total of all committed pecan inventory, domestic consumption makes up approximately 90% while exports account for the remaining 10%.
This data bodes well for the American Pecan Council and the new “American Pecan” campaigns, showing the effectiveness of marketing on the domestic market. Prior to the establishment of the APC and the federal marketing order, domestic consumption had been stagnate for many years.