Dive Brief:

• Prices for pecans are soaring. Poor weather during the past two years as cut production, but new demand from China is the main source of pricing pressure.
• Roughly 7% of U.S. pecan production this year is expected to ship to China.
• The cost of pecans has already reached $9 a pound, and may reach $12 a pound at retail in the days before Thanksgiving.

Dive Insight:

China’s demand for nuts is reaching a fever pitch. And pecans aren’t the only crop affected. Almonds are also attracting Asian buyers. But almonds are just almonds. Whereas pecans are used to make pecan pie – and we really love pecan pie on Thanksgiving. So let’s be frank. Everyone likes to save money. We get that. But if you’re planning on skipping the pecan pie this year, don’t expect us to come over for dinner. We’d rather put up with the in-laws.