TIDMACHL

RNS Number : 2010R

Asian Citrus Holdings Ltd

15 November 2012

15 November 2012

Asian Citrus Holdings Limited

("Asian Citrus" or "the Group")

WinterOrange crop

Asian Citrus, the largest orange plantation owner and operator in China, announces that it has now concluded its negotiations on the pricing of its forthcoming winter crop and that it has achieved a slight year on year increase of less than 1% in the average selling price for the Hepu Plantation and Xinfeng Plantation crops .

As part of the ongoing replanting programme 66,449 winter orange trees in the Hepu Plantation have been replaced with new species of summer orange trees during the year ended 30 June 2012 leading to reduced winter orange production from the Hepu Plantation. Based on the recently signed supply agreements, the Group will supply a total of 32,700 tonnes winter oranges from Hepu Plantation in the second half of 2012, representing a decrease of 27% in comparison to the actual production output of 44,906 tonnes in the same period last year.

As the orange trees in the Xinfeng Plantation continued to mature, based on the recently signed supply agreements, the supply of winter oranges from Xinfeng Plantation increased to 131,600 tonnes in the second half of 2012. This is an increase of approximately 4% in comparison to the actual production output of 126,701 tonnes in the same period last year.

For further enquires:

 
 Asian Citrus 
 Eric Sung, Finance Director                  +852 2559 0323 
 
 Seymour Pierce Limited (NOMAD and 
  Joint Broker) 
 Jonathan Wright, Tom Sheldon (NOMAD)         +44 (0) 20 7107 8000 
 Richard Redmayne, Jacqui Briscoe(Broking) 
 Liberum Capital Limited (Joint Broker) 
 Clayton Bush, Richard Bootle                 +44 (0) 20 3100 2222 
 
 Weber Shandwick Financial                    +44 (0) 20 7067 0700 
 Nick Oborne, Stephanie Badjonat, 
  John Moriarty

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCVELBFLFFXFBK

Asian Citrus (LSE:ACHL)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Asian Citrus Charts.
Asian Citrus (LSE:ACHL)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Asian Citrus Charts.