Alico, Inc., which will cease citrus production after this season, reported its citrus harvest declined in the three months ending Dec. 31, 2024 compared to the same period a year earlier.
For those three months, Alico Citrus harvested approximately 4 million pound solids of fruit, compared to 4.7 million pound solids in the same period in the prior fiscal year. The decrease in pound solids harvested was driven by fruit drop caused by Hurricane Milton.
Alico’s average price per pound solids for the three months increased $1.03, to $3.69, as compared to the same period of the prior year. The company reported that was a result of more favorable pricing in one of its contracts with Tropicana.
“Operational results reflected the ongoing challenges in our citrus division, with lower levels year-over-year of pounds solid being produced,” President and Chief Executive Officer John Kiernan stated. “Current season production trends, coupled with persistent impacts of citrus greening disease and environmental factors, indicate that our total harvest volume for fiscal 2025 will likely be lower than fiscal 2024 … Looking ahead to the remainder of fiscal 2025, we expect to complete our final citrus harvest while positioning the company for its next chapter. As previously announced in early January, we are executing our strategic transformation to become a diversified land company, balancing alternative agricultural operations with strategic land monetization opportunities. By exiting capital-intensive citrus production, we strengthen our financial position.”
Alico, Inc. operates two divisions: Alico Citrus, currently one of the nation’s largest citrus producers, and Land Management and Other Operations, which includes land leasing and related support operations. While the company will wind down citrus operations after the current crop is harvested, it stated that it remains committed to Florida’s agriculture industry and will focus on its long-term diversified land usage and real estate development strategy.
Source: Alico, Inc.
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