The US pecan industry has welcomed news that China has dropped its import tariff on the nuts from 24 per cent to 10 per cent.
Native to the US, around 80 per cent of the world’s pecan production comes out of the US, with the primary production state Georgia exporting around 75 per cent of its pecans to China, according to the FAS.
“The reduction in the Chinese pecan tariff from 24% to 10% is going to put pecans in a very competitive place, and will have a significant positive impact on the value of pecans in the United States,” said Jay Glover, President of the National Pecan Growers Council in a press release.
The US pecan export industry was valued at US$486.9m in 2012 an estimated, with Hong Kong, Mexican and Europe among its largest markets.
China has also reduced the import tariff on US macadamias from 24 per cent to 19 per cent.