Aw, Nuts! Why You’ll Pay More for Pecans This Year
Do pecans usually pop up on your holiday table? This year you might be paying more for the nuts, thanks to a bout of bad weather and the rising popularity of pecans in an unexpected place.
A severe drought in pecan-growing states in the southern United States has affected the crop, particularly in Texas. This year the state will produce 30 million pounds less than it did in 2010, which partially explains why the price of pecans has jumped 22%, up to $11 per pound. (In 2009, pecans were just $7 per pound.)
The other factor behind the price jump is the increased demand for pecans in China. Apparently pecans are enjoying a new popularity among the Chinese, who now buy about a quarter of the U.S. crop.
• Read more: Pecan prices set to pop 22% at CNN Money
Have you noticed an increase in the price of pecans? Will it keep you from making any of your usual holiday dishes?