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is international data management limited (517044) worth holding long term ✌️【Fixed Income】✌️ Free access to stock market forums, expert advice, and real-time data to help you stay informed and grow your investments. Moses said she and her husband, Arren, knew the hurricane would take a toll on their 800 acres of pecan trees. Yet the devastation this September was astounding. The hurricane destroyed the entirety of their pecan-producing trees.
“It was just a complete loss,” Moses said. “We knew at that time that everything was gone. That was heartbreaking to know that you’ve put in many years of work and it’s just all gone overnight.”
Georgia is the top producer of pecans in the US, according to theDepartment of Agriculture. The pecan harvest season begins in September — just in time for the holidays, when Americans delight in pecan pie.
is international data management limited (517044) worth holding long term ✌️【Fixed Income】✌️ Professional stock market analysis, real-time data, and expert recommendations for high-potential stocks. Take advantage of market opportunities and improve your capital growth with strategic investment plans. When Hurricane Helene crossed into Georgia on September 26, however, the storm’s path destroyed about 36 million pounds of pecans, or one third of the state’s annual crop, according to UGA, decimating an agricultural industry that was already reeling after years oftariffs, increased labor and production costs and low consumerprices.
Hurricane Helene affected at least 48,000 acres of pecan trees, according to UGA. The overall economic impact of Hurricane Helene on Georgia’s entire agriculture industry is estimated at $6.46 billion,according to UGA.
is international data management limited (517044) worth holding long term ✌️【Fixed Income】✌️ Free stock data analysis tools to help you select stocks accurately and capture global market trends. Stay ahead with expert market predictions for better investment returns. The hurricane’s destruction is a direct blow for farmers who put years of labor into their crops. Pecan trees can take a decade to bear nuts that can turn a profit, and Moses said she and her husband will be out of production for years.
Hurricane Helene devastated farmers because it destroyed large nut-producing trees, some as old as 100 years old, according to Lenny Wells, a professor of horticulture at UGA who has been a pecan specialist for over 20 years.
Initial estimates show that about 70% of Georgia’s pecan trees aged 50 years and older were completely lost in the hurricane, according to Wells.
Hurricane Helene was also crippling for farmers in Georgia because it hit justsix years after Hurricane Michael, Wells said. The 2018 hurricane caused more than $2 billion in overall damage to Georgia’s agricultural industry, according to UGA.
“I thought that Hurricane Michael would be the worst storm I would possibly see in my career as far as its effect on pecans, but this one I think is going to be worse than that,” Wells said.
Pecan trees are a long and arduous investment for farmers because it can take years before they begin producing nuts, Tyler Harper, Georgia’s Commissioner of Agriculture, told 【 - Free Expert-Led Investment Training 】.
Harper said that some pecan farmers incurred generational financial losses, losing decades-old trees. “It takes a long time to recover from that and be able to get back that investment,” he said.
Chris Harrell, a chief executive at Southern Roots Nuts Company, a wholesale pecan supplier based in Georgia, told 【 - Free Expert-Led Investment Training 】 that pecan farmers were already in a tight spot due to increased costs, and the impact from the hurricane just made it worse.
Harrell is part of a co-operative with 16 farmers in Georgia, and he said the effects of Hurricane Helene have been demoralizing. “Five of those farmers lost their entire crop as well as a good percentage of their trees,” he said.
is international data management limited (517044) worth holding long term ✌️【Fixed Income】✌️ Real-time stock and futures data, backed by expert stock market trend predictions, to help you make timely and profitable investment decisions. Moses said the damage from Hurricane Helene means she and her husband “will not harvest a single pecan” this season.
Harrell said the Southern Roots co-operative is unsure if they have enough supply to meet demand, and they are projecting short-term price increases due to the depleted pecan crop.
Greg Fonsah, a professor of economics at UGA, told 【 - Free Expert-Led Investment Training 】 that Hurricane Helene’s impact on the pecan harvest could create a shortage.
Outside of Georgia, there are other pecan-producing states like New Mexico that can supplement consumer demand, according to Brad Rubin, a sector manager at Wells Fargo’s Agri-Food Institute.
is international data management limited (517044) worth holding long term ✌️【Fixed Income】✌️ AI-driven stock trend forecasting with free access to real-time market data, offering personalized investment advice and expert predictions. Nonetheless, unless long-term pecan supply recovers to meet demand, prices could increase. “I don’t expect large swings near-term, but demand next year or in subsequent years could push prices up,” Rubin said.
is international data management limited (517044) worth holding long term ✌️【Fixed Income】✌️ Real-time stock market data, precise predictions, and investment strategies to help you optimize your portfolio and achieve financial success. Some companies that rely on pecans have already baked in prices the holiday season, according to Laura Shenkar, the chief executive of PKN, a pecan-based milk company. Yet Shenkar said she anticipates price increases in the future as farmers take stock of what crop remains.
“Pecans are very important in things like butter pecan ice cream and your pie,” Shenkar said, noting consumers might see eventual price increases due to the depleted crop.
is international data management limited (517044) worth holding long term ✌️【Fixed Income】✌️ Free expert predictions on stock trends and real-time data to help you make informed decisions and grow your wealth steadily. At the Moses pecan farm, Taylor Moses said she and her husband have had long, emotional conversations about whether to replant their pecan trees. She said they had hoped to pass trees on to their son, who is three years old.
In the meantime, she said they plan to diversify their farm and incorporate other crops that they can grow on a shorter timeline.
is international data management limited (517044) worth holding long term ✌️【Fixed Income】✌️ Accurate real-time market data and expert stock predictions for profitable investment opportunities in global markets. While some farmers might have crop insurance for this year, Wells said, the financial and emotional impact from losing entire trees is another matter.
“They face so many challenges that are out of their control,” Wells said. “And this one certainly is a big one. This is one of the biggest challenges most of them will face in their lifetime.”
is international data management limited (517044) worth holding long term ✌️【Fixed Income】✌️ Expert stock predictions and free stock selection services to help you achieve optimal returns and long-term growth. Most stock quote data provided by BATS. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. All times are ET. Factset: FactSet Research Systems Inc. All rights reserved. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and 【 - Free Expert-Led Investment Training 】. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Fair value provided by IndexArb.com. Market holidays and trading hours provided by Copp Clark Limited.
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