Asian Citrus' second-half winter orange output falls 71% year-on-year
Sina Finance news, November 7 - according to Caihua News Agency, Asian Citrus (00073-HK) announced that the average selling price of the winter orange harvest from the group's Xinfeng plantation is expected to increase by about 2.6% compared with last year. However, the expected average selling price at the Hepu plantation will decrease by about 40.2% compared with last year,
Sina Finance news, November 7 - according to Caihua News Agency, Asian Citrus (00073-HK) announced that the average selling price of the winter orange harvest from the group's Xinfeng plantation is expected to increase by about 2.6% compared with last year. However, the expected average selling price at the Hepu plantation will decrease by about 40.2%, a decrease reflecting widespread damage from typhoons, especially Typhoon Wipha in July this year, as well as the poor appearance of fresh oranges infected with citrus canker.
According to a recently signed supplier agreement, the Xinfeng plantation will supply 113,600 tonnes of winter oranges in the second half of this year, a decrease of about 7.8% compared with the actual output of 123,228 tonnes in the same period last year. The decrease reflects the impact of low-temperature freezing rain and frost at Xinfeng earlier this year on the flowering of the fruit trees.
According to a recently signed supplier agreement, in the second half of this year the group will supply only a total of 7,100 tonnes of winter oranges from the Hepu plantation, a decrease of about 71.3% compared with the actual output of 24,699 in the same period last year.
Due to the reduced output from the two plantations, together with the expected downward adjustment in the average selling price of the winter orange harvest at the Hepu plantation, the company's board of directors estimates that the revenue and profit of the group's agricultural products segment for the financial year ending June 30 next year will decrease compared with last year's actual figures.
According to a recently signed supplier agreement, the Xinfeng plantation will supply 113,600 tonnes of winter oranges in the second half of this year, a decrease of about 7.8% compared with the actual output of 123,228 tonnes in the same period last year. The decrease reflects the impact of low-temperature freezing rain and frost at Xinfeng earlier this year on the flowering of the fruit trees.
According to a recently signed supplier agreement, in the second half of this year the group will supply only a total of 7,100 tonnes of winter oranges from the Hepu plantation, a decrease of about 71.3% compared with the actual output of 24,699 in the same period last year.
Due to the reduced output from the two plantations, together with the expected downward adjustment in the average selling price of the winter orange harvest at the Hepu plantation, the company's board of directors estimates that the revenue and profit of the group's agricultural products segment for the financial year ending June 30 next year will decrease compared with last year's actual figures.