do any of the MRG.asx holders have an understanding of the industry?
sunbeam is paying circa 1900 bucks per tonne for sun muscat/sultanas etc. Currants go at a lower price but yield a lot more.
MRO is paying circa 2300. These are just rough numbers and I've seen contracts. This hasnt been enough to attract growers!! Australian premIum atr offering free sunglo vInes and decent contracts. thats more appealIng In my view.
One of their biggest issues is that they either can't take Gordos (a variety) due their lack of ability to remove the seed or they simply don't have a market. it's one or the other but I can't remember.
bottom line is a lot of growers have a patch of gordos and that means sunbeam is about their only option.
these relationships with processors go back decades. A little bit of cash upfront won't excite that many growers. They are the laughing stock of the Industry and any grower will a) worry about recieving the last 20% paYMent or b) getting paid for a consignment at all!
if their crop is worse than last year they will be raising gain. are you holders going to throw more money at them? I feel sorry for the underwriters that are possibly still stuffed full of stock from the most recent issue!!
MRG Price at posting:
8.5¢ Sentiment: Sell Disclosure: Not Held
