US citrus cooperative Sunkist has for the second consecutive year achieved sales totalling in excess of US$1bn.
Sunkist CEO Russell Hanlin praised the 2010-11 operating year results. “Your cooperative is in excellent financial shape and is extremely well capitalised with close to US$80m in member equity and virtually no debt,” he told members in a media release.
Hanlin also reported grower payments for crops sold at US$803m - up US$14m on the previous season making these the best results in three years. He also noted citrus juice and oil sales generated US$88m – the best results in more than a decade.
Sunkist’s sales department had done an admirable job, said Hanlin as it had to deal with the group’s largest crop to date, consisting of mainly small-sized fruit.
A recent change to the cooperative’s citrus juice and oils business, which processes by-products fruit, is expected to yield positive results, he added. “In 2011, we entered into a joint venture with another processor, Ventura Coastal, in what we believe is a fabulous deal for both companies.”
In other news, Mark D Gillete of Dinuba, California, was elected to his second year as Chairman of the cooperative.
He is president of the Sunkist-affiliated Gillette Citrus Inc, a vertically integrated company that grows, packs and ships fresh citrus. Gillette is a fourth generation citrus grower who produces lemons, mandarins and navels, valencia, Moro and Cara Cara oranges in Fresno and Tulare counties.
