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.
Limoneira Co., Santa Paula, Calif., has entered into an agreement with FGF Trapani, a family-owned citrus operation in Argentina, acquiring 1,200 acres of lemons up front and another 1,200 over a three-year period.
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.