Approx 23% of Transacted sales are citrus. Assume the same % applies to actual sales ($809m) then approx citrus sales are $186m.
I note they are very bullish on citrus. From this years announcement:
Strong performance for the year with a positive combination of yield, price and quality
• The 2016 season crop was light but the navel orange sizing was at optimal count size, and mandarin values were strong. The 2017 calendar season crop is expected to be a record 100,000+ tonnes
• Continued enhancement of Costa’s market leading positions in Japan, USA and NZ. Costa share of Aust. navel exports now approx 47% into Japan and 40% into the USA
• $3.3m upgrade to the Murtho (navel orange) packhouse completed in June 17, with expected labour and productivity savings over the coming season.
I had not given much thought to Hurricane Irma but I guess it can only reduce supply and increase prices in the USA - so all good I guess (he says from the safety of the other side of the world).
CGC Price at posting:
$5.35 Sentiment: Hold Disclosure: Held
