China tariffs hit pecan prices but hurricanes temper
LAS CRUCES, N.M. (AP) — President Donald Trump’s continued trade war with China will likely cost pecan growers throughout New Mexico, where the pecan harvest has begun.
China is the biggest foreign consumer of U.S.-grown pecans and imposed a 47 percent tariff on U.S. pecans in July in retaliation for tariffs levied by Trump on a wide variety of Chinese-made goods.
Chinese demand for pecans has disappeared as a result, and prices paid to growers have fallen.
But New Mexico growers tell the Las Cruces Sun News Las Cruces Sun-News that weather damage to pecan crops in Georgia and other states will probably mean they here won’t suffer as much as they might have in the short term.
Bigger concerns loom if the tariffs and hurricane damage to Georgia’s crops reduce world-wide demand.
Information from: Las Cruces Sun-News, http://www.lcsun-news.com