Citrus greening disease hits Asian Citrus orange output

Asian Citrus Holdings Ltd, a large Chinese citrus producer, has announced that its turnover for the second half of 2015 had significantly decreased due to the effects of the citrus greening disease.

The actual winter orange crop yield of Hepu Plantation was approximately 4,671 tonnes, which was in line with the tonnage indication of 4,700 tonnes given in the statement of 18 December. The actual winter orange crop yield of Xinfeng Planation was approximately 10,894 tonnes, against the tonnage indication of 11,000 tonnes given in the winter orange crop Statement. The production yield from Xinfeng Plantation has, as previously announced, reflected the dramatic impact of the Huanglongbing disease infection.

Accordingly, the total production yield of winter oranges for the Group decreased from 110,993 tonnes for the corresponding period last year to approximately 15,565 tonnes in the period, which represents a decrease of approximately 86.0%. Additionally, the average selling price of the Group's winter orange crop was approximately 3% higher at the Hepu Plantation and 23.6% lower at Xinfeng Plantation compared to the prior year.

Furthermore, profitability was impacted by the need to apply additional pesticides as to prevent the spread of the Huanglongbing disease and protect the unaffected orange trees.

As announced on 29 December, Xinfeng Plantation had ceased operations permanently following completion of the winter orange harvest in 2015.

Source: Stockmarketwire