Asian Citrus Holdings expects summer orange production to fall to 16,370 tonnes at its Hepu plantation this season, down 14.4 per on the output of 19,132 tonnes in 2015.
In a statement issued via the London Stock Exchange, the group attributed the decline to variable weather and persistent rainfall in late 2015 and early 2016.
Despite the crop outlook, the average selling price of summer oranges is anticipated to increase 3.9 per cent on the previous year.
Asian Citrus Holdings’boardof directors indicated the decrease in production volume of the summer crop, along with other key factors affecting the financial performance of the group, will continue to adversely influence the group's agricultural business.
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