techs
Lifer
http://online.wsj.com/article/SB10001424052748704076804576180774248237738.html?mod=googlenews_wsj
"What's changed in our business?" asks second-generation pecan merchant and sheller George Martin, president of Navarro Pecan Co. in Corsicana, Texas. "The Chinese entered and they have been getting bigger and bigger and bigger."
The dynamics are simple. "We're in a situation of finite supply and seemingly infinite demand," says Thomas Stevenson, a Georgia pecan grower and merchant. Eventually, more trees will be planted, but a pecan takes eight to 10 years to bear fruit.
For now, life is good for pecan growers, who produce about $550 million a year worth of nuts at today's prices. Grower Bill Goff sold the entire crop of his 1,800 acres of Georgia pecans to Chinese buyers last year. But he's not putting the profits into a sports car. Instead, he is buying up another 500 acres of pecan orchards. In Georgia, he says, pecan orchards hovered between $3,000 and $3,800 an acre five years ago. Today, they sell for between $4,500 and $6,000 an acre.
This is a threat to pecan pie lovers. WE MUST TAKE ACTION to preserve our nuts!
"What's changed in our business?" asks second-generation pecan merchant and sheller George Martin, president of Navarro Pecan Co. in Corsicana, Texas. "The Chinese entered and they have been getting bigger and bigger and bigger."
The dynamics are simple. "We're in a situation of finite supply and seemingly infinite demand," says Thomas Stevenson, a Georgia pecan grower and merchant. Eventually, more trees will be planted, but a pecan takes eight to 10 years to bear fruit.
For now, life is good for pecan growers, who produce about $550 million a year worth of nuts at today's prices. Grower Bill Goff sold the entire crop of his 1,800 acres of Georgia pecans to Chinese buyers last year. But he's not putting the profits into a sports car. Instead, he is buying up another 500 acres of pecan orchards. In Georgia, he says, pecan orchards hovered between $3,000 and $3,800 an acre five years ago. Today, they sell for between $4,500 and $6,000 an acre.
This is a threat to pecan pie lovers. WE MUST TAKE ACTION to preserve our nuts!