Even with a 1.7% decline in shipments from last year, the 2012–2013 crop was the second largest in history. Moreover, as Figure 1 shows, the five-year average growth rate is a remarkable 8.3%.
Although bearing acreage has increased annually by approximately 20,000 acres (Figure 2), production yields have been declining the past couple of years (Figure 3), which has resulted in lower total production. But as shown in Figure 4, increased global demand has resulted in farm prices steadily rising over the past four years.
Click each thumbnail to the left to view the full-size chart.