Asian Citrus Holdings has revealed selling prices for its forthcoming summer orange crop are “broadly flat.”
In a statement issued via the London Stock Exchange, the Chinese-based firm said it had concluded pricing negotiations for the upcoming season, with a marginal decrease in year-on-year supermarket returns of 1 per cent, while wholesale pricing has fallen 1.3 per cent.
Asian Citrus has signed agreements to supply a total of 57,000 tonnes of summer oranges in the first half of 2014, comparable with its production output of 57,367 tonnes during the same period last year. Production at the group’s Hepu plantation continues to be limited as a result of a citrus canker infection reported last year.
In January, Asian Citrus confirmed its revenue and core net profit for the last six months of 2013 was lower than the corresponding period a year earlier. The group’s board says this performance continues to influence the company’s agricultural produce operations.
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