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.