Hawaii and Related Agriculture Daily Charts for the week ending 05-21-2010
The annual charts have bee updated. CLICK HERE to view.
The 360 day comparative price, line and histogram charts, page has been updated also. CLICK HERE to view.
Maui Land and Pineapple (MLP) 05-21-2010
Whole Food Markets (WFMI) 05-21-2010
ML Macadamia Orchards LP (NNUT) 05-21-2010
Alexander and Baldwin (ALEX) 05-21-2010
Monsanto (MON) 05-21-2010
Syngenta (SYT) 05-21-2010
DUPONT E I DE NEM (DD) 05-21-2010
Maui Land & Pineapple Co. Inc. topped the list of Biggest Percentage Price Decliners among common stocks on the New York Stock Exchange at midday.
Maui Land & Pineapple, Red Robin Gourmet Burgers: Biggest Price Decliners (MLP, RRGB) – WSJ.com
PAIA – The state Commission on Water Resource Management will take up a petition next week to set new instream-flow standards for 16 East Maui streams.
The panel will meet at 1 p.m. Tuesday at the Paia Community Center, where it could render a final decision in the ongoing dispute over East Maui stream water, much of it now diverted by ditches to irrigate Hawaiian Commercial & Sugar Co. fields in Central Maui.
The meeting will continue hearings held in December to determine how much water the sugar plantation and Maui County can continue to take from the East Maui watershed. The county Department of Water Supply takes the water for domestic use by residents.
Decisions that come out of the meeting could have long-lasting impacts on all the parties involved. Previously, commissioners had asked the sides to come up with compromises to share the surface water resource, such as fixing leaky ditches and restoring water to streams in the rainy winter months.
The agenda for Tuesday’s meeting sets aside time for presentations from the state water commission staff, the Nahiku Community Association, Native Hawaiian Legal Corp., HC&S and county Department of Water Supply.
The commission, which is part of the Department of Land and Natural Resources, also will accept public testimony. If there is not time on Tuesday to make a final decision, the commission is tentatively scheduled to reconvene on June 16 and July 21, according to the agenda released Wednesday.
The long-fought battle over East Maui’s stream water has pitted environmentalists and Native Hawaiian taro farmers against HC&S, Maui County and Upcountry farmers and ranchers.
The water commission has already required HC&S to partially restore millions of gallons a day to several streams on the western half of the East Maui watershed.
With Maui still in a 3-year-old drought, HC&S has said that further claims on available surface water would hurt the company and jeopardize more than 800 agricultural jobs.
WAILUKU – A U.S. Geological Survey study 4 years in the making and released this week describes the effects of taking millions of gallons of water daily from "the Four Streams" of Na Wai Eha that originate in the West Maui Mountains.
USGS also presented a complex matrix showing the amounts of stream water needed to return to each of the Central Maui streams to revitalize flora, fauna and aquatic life; to recharge the aquifer and to promote taro growing. The report also details the amount of water necessary to resume mauka-to-makai, or mountain-to-ocean stream flow, something not seen for more than a century of stream diversions to irrigate sugar crops.
"The idea is to give people and the commissioners the tools to understand the effects of a decision to divert water and adjust those diversions," said USGS hydrologist Delwyn Oki, who presented the findings of his 176-page report to about 50 people in Maui Economic Opportunity’s classroom Tuesday night.
NEW YORK (TheStreet) — Through the first months of 2010, the Market Vectors Agribusiness ETF(MOO) has been punished as a storm of bad earnings reports and sliding food prices pressures the fund below its 200-day moving average, but this slide may not be over.
At the close of 2009, MOO was lauded by many as the go-to fund for investors looking for a chance to play a fertilizer industry turnaround in 2010. At the time, the global economy was well on the road to recovery and growth forecast in China’s markets was seen as a catalyst for food demand. In order to keep hungry mouths fed, farmers would need to step up yields, providing the fertilizer industry with an ideal window for growth.
Agricultural chemical companies make up more than 45% of MOO’s total portfolio, and with Potash of Saskatchewan(POT) and Mosaic(MOS) in the top-10 holdings, MOO appeared well equipped for any such windfall.
Unfortunately the first months of the year have passed with no such boost. Although names including Terra Industries(TRA), CF Industries(CF), Bunge(BG) and Vale(VALE) grabbed headlines when M&A activity heated up early in the year, any benefits from their respective deals have long been wiped away as investors focus on debt issues coming to a head in the eurozone and economic tightening in China.
Rather than living up to the optimistic forecasts for the fertilizer industry, POT and MOS have tumbled 6% and 19%, respectively, in 2010. Once bright, MOO’s future is now clouded in uncertainty.
Martin & MacArthur and Hawaiian Legacy Hardwoods are launching a partnership to promote re-forestation of koa in Hawaii.
With every purchase of Martin & MacArthur furniture beginning Thursday, a new koa tree will be planted on the Big Island in the customer’s honor.
Additionally, for $59, customers may also fund the planting of a new koa tree, receiving a certificate of planting and naming rights to the tree.
The customer will receive a certificate recognizing the koa tree planted in honor of anyone or any event they designate. This certificate will also note the unique radio frequency identification code and GPS coordinates for this tree, enabling customers to track the exact location of the tree using mapping Web sites.
"While koa is not an endangered wood, we want to do our part in returning this historic land to lush koa forest," explains Michael Tam, Martin & MacArthur CEO. "Now our customers can directly help re-forest koa here in Hawaii."
Form 8-K for MAUI LAND & PINEAPPLE CO INC
Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders
On May 13, 2010, Maui Land & Pineapple Company, Inc. (the "Company") held its 2010 annual meeting of shareholders, or the Annual Meeting. Proxies for the Annual Meeting were solicited pursuant to Regulation 14A under the Securities Exchange Act of 1934. The number of shares of the Company’s common stock, or the Common Stock that were outstanding as of March 12, 2010, which was the record date for the Annual Meeting, was approximately 8,518,033. The final results of the voting at the Annual Meeting are as follows:
Proposal 1: To amend the Company’s Restated Articles of Association to change the number of members of the Board of Directors to not less than five (5) nor more than nine (9), and to declassify the Board of Directors.
Shares voted for: 7,535,426 Shares voted against: 43,656 Shares abstained: 17,685 Broker Non-Votes: 0Proposal 2: Election of Directors to serve for a one-year term or until their successors are elected and qualified if Proposal No. 1 is approved:
Shares Voted Shares Broker For Withheld Non-Votes Stephen M. Case 5,972,951 60,694 1,563,122 Warren H. Haruki 5,971,766 61,879 1,563,122 David A. Heenan 5,575,123 458,522 1,563,122 Kent T. Lucien 5,971,401 62,244 1,563,122 Duncan MacNaughton 5,972,571 66,154 1,563,122 Arthur C. Tokin 5,972,571 61,074 1,563,122 Fred E. Trotter III 5,967,637 66,008 1,563,122Proposal 3: Election of Directors to serve for a three-year term or until their successors are elected and qualified if Proposal No. 1 is not approved:
Shares Voted Shares Broker For Withheld Non-Votes David A. Heenan 5,701,813 331,832 1,563,122 Kent T. Lucien 5,970,251 63,394 1,563,122 Arthur C. Tokin 5,966,446 67,199 1,563,122Proposal 4: To amend the Company’s Restated Articles of Association to authorize an additional 20,000,000 shares of the Common Stock:
Shares voted for: 7,139,064 Shares voted against: 416,117 Shares abstained: 41,586 Broker Non-Votes: 0Proposal 5: Ratification of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for fiscal year 2010:
Shares voted for: 7,543,956 Shares voted against: 47,624 Shares abstained: 5,187 Broker Non-Vote: 0
Haliimaile Pineapple Co. employees work to process fresh pineapples Thursday at the company’s renovated Haliimaile plant. The company closed a former Maui Pineapple Co. processing plant in Kahului and moved to Haliimaile to centralize plantings and packing there, said Vice President Rudy Balala. He said the weather has been “nice but kind of dry,” but replanting is on schedule. Haliimaile Pineapple took over about 1,000 acres when Maui Pineapple shut down at the end of the year. The new company handles about 75 tons of fruit per day, but most of it stays in Hawaii, with about 20 percent sold to customers on the Mainland, Balala said.
University of Hawaiʻi at Mānoa
UH Mānoa’s College of Tropical Agriculture and Human Resources (CTAHR) and the Hawaii Tea Society will host a tea workshop featuring world-renowned tea expert Jane Pettigrew from the United Kingdom, on Friday, June 4, from 3:00-5:00 p.m. The workshop will be held at the Mealani Research Station at 64-289 Mamalahoa Highway in Kamuela on the Big Island.
Pettigrew will speak on the cultural nuances of the world tea industry and how Hawai‘i tea growers can benefit from those nuances. The presentation will be of interest to tea lovers, those who want to learn more about different tea varieties and the countries that produce them, and tea processors.
A cupping evaluation for Hawaii tea growers will also be offered by Pettigrew. Interested growers can enter up to three teas per farm, and should register with 6 grams per tea at 2:30 p.m.