No matter how you say it -- pee-khan, pi-khan, pee-can or any other variation -- the price of pecans is going up.
Photo from the USDA Want pecans for your pie this Thanksgiving? Don't wait to buy them!
The increase may not be seen on grocery store shelves just yet, but a number of contributing factors mean that your pecan pies will likely be a little more expensive this holiday season. But here in Texas, we need our pecan pie. In addition to the pecan tree being our state tree and the pecan being our state nut, earlier this year the Texas House of Representatives named pecan pie our state pie. So this is a big deal.
According to Forbes, the peak price for pecans in December 2012 was a little more than $2 per pound. Pecans are an alternate-bearing crop, meaning they have a good crop one year followed by a poor crop another year. Last year was an on year, with a huge bumper crop being harvested.
This year, growers are facing a low yield due to the pecan trees' yearly cycle as well as issues stemming from last year's drought, a late-spring freeze and increased demand for pecans in China. These factors have caused estimates of prices to be in the $9 to $11 per pound range for shelled pecans beginning in late November.More »