Temporary setback for Asian Citrus

Sales down 14.5% for the second half of 2012: results in decline, but it is a temporary setback for Asian Citrus, the largest Chinese producer of oranges.

The company has announced for the year 2012, a decrease in turnover of 14.5% and in earnings by 23%. The total production of Asian Citrus fell by 6% to 161,233 tons. Bad weather and big plans of replanting would be the causes of this decline in production.

Asian Citrus operates two plantations: Hepu (1.6 million orange trees) in the region of Guangxi Zhuang, and Xinfeng (1.3 million orange trees) in Jiangxi Province. In 2010 the group took control of Beihai GPB, the largest manufacturer and wholesaler of fruit juices in China.

Source: agri money com