IMG Citrus is celebrating 40 years in business, starting as a 72-acre farm that’s transformed to a vertically integrated grower, packer and shipper that recently added 4,000 acres of Florida grapefruit.
The U.S. Department of Agriculture has expanded quarantined areas for citrus greening in California, Texas and Louisiana after the disease was detected in plant tissue samples in multiple locations in the states.
Debt-to-asset ratios are on the rise, working capital is eroding and farmers’ sentiments are on the decline. Despite the negativity surrounding prices and outlooks, Famer Mac is providing a voice of optimism.
California growers are expected to produce 80 million cartons of navel oranges during the 2018-19 season, according to estimates from the U.S. Department of Agriculture. That’s an 11% increase over last year.
Florida’s orange volume should be about 77 million 90-pound box equivalents, most of which will go to processing, said Andrew Meadows, director of communications for Lakeland-based Florida Citrus Mutual.