Published: June 6, 2023 at 6:03 p.m. ET
By Adam L. Cataldo
Limoneira, whose activities include citrus growing, packing, selling and marketing, said the company’s food-service business and industry logistics continue to experience a slowdown due to supply chain and inflationary pressures on a global basis.
On the outlook for avocado production:
“The…
By Adam L. Cataldo
Limoneira, whose activities include citrus growing, packing, selling and marketing, said the company’s food-service business and industry logistics continue to experience a slowdown due to supply chain and inflationary pressures on a global basis.
On the outlook for avocado production:
“The company now expects avocado volumes to be in the range of 3 million to 4 million pounds for fiscal year 2023, compared to previous guidance of 4 million to 5 million pounds. The decrease is primarily due to weather-related factors adversely affecting our orchards.”
On the outlook for lemon production:
Limoneira still expects fresh lemon volumes to be in the range of 5 million to 5.4 million cartons for fiscal year 2023.
On the outlook for production in coming years:
The company has 700 acres of non-bearing lemons and avocados estimated to become full bearing over the next four to five years, which Limoneira expects will help enable strong organic growth. It also expects to have a steady increase in third-party grower fruit.
Write to Adam Cataldo at adam.cataldo@wsj.com
