Monthly Archive for October, 2009

The last haul – Hawaii Business – Starbulletin.com

Published on October 31, 2009 in General Ag News and Notes and Sugar Cane.

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Gay & Robinson’s departure means Hawaii has only one sugar grower left

By Allison Schaefers

POSTED: 01:30 a.m. HST, Oct 31, 2009

The Last Sugar Mill in Hawaii Click for Larger Image

The Last Sugar Mill in Hawaii
Click for Larger Image

WAIMEA, Kauai » The sugar workers bringing in the last harvest at centuries-old Gay & Robinson had tears in their eyes, but this time it was not from the smoke and burning caramel smell that accompanies cane processing.

Amid a chorus of honking trucks, employees escorted Kauai’s last load of sugar cane from the field to the mill yesterday. Along the way, they paid homage to West Kauai, and the community responded in kind.

The convoy began at Makaweli Post Office and proceeded through Waimea Town, around the West Kauai Technology Center and into Hanapepe before stopping at Kaumakani Mill where the workers rode up the dusty drive like returning war heroes. They are the last of their kind on Kauai, the island that ushered in the state’s centuries-old sugar tradition with the opening of the first successful sugar mill in Koloa in 1835. They are the end of an era.

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ML&P’s Kapalua equity ‘written down’ – – The Maui News

Published on October 31, 2009 in General Ag News and Notes and Pineapple.

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By ILIMA LOOMIS, Staff Writer

POSTED: October 31, 2009

Maui Land & Pineapple Co. has reported a $25.5 million loss for the third quarter of 2009.

The loss includes $22.8 million in recorded losses on the company’s investment in Kapalua Bay Holdings. On top of previous write-downs, that means the company now has lost all of the money it originally invested in the venture, said Chief Financial Officer John Durkin.

"Unfortunately, we’ve now written down all our equity in Kapalua Bay Residences," he said.

The latest report brings ML&P’s total losses for the first nine months of 2009 to $92.9 million – larger than the $71.6 million loss the company recorded for the entire year in 2008.

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Hawaii and Related Agriculture Daily Charts for the week ending 10-30-09

Published on October 30, 2009 in General Ag News and Notes.

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The annual charts have bee updated. CLICK HERE to view. The 200 day comparative price, line and histogram charts, page has been updated also. CLICK HERE to view.

Maui Land and Pineapple (MLP) 10-30-09
Maui Land and Pineapple (MLP)

Calavo Growers (CVGW) 10-30-09
Calavo Growers (CVGW)

Alexander and Baldwin (ALEX) 10-30-09
alexweek103009

Monsanto (MON) 10-30-09
Monsanto (MON)

Syngenta (SYT) 10-30-09
Syngenta (SYT)

DUPONT E I DE NEM (DD) 10-30-09
Syngenta (SYT)
Continue reading ‘Hawaii and Related Agriculture Daily Charts for the week ending 10-30-09′

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Limoneira Company Announces Sale of Calavo Growers

Published on October 30, 2009 in General Ag News and Notes and Pineapple.
SANTA PAULA, CA–(Marketwire – 10/30/09) – Limoneira Company (LMNR), one of California’s largest agribusinesses, announced the sale of 335,000 shares of its ownership in Calavo Growers, Inc. (NASDAQ: CVGW), a global leader in the packing and marketing of fresh and processed avocados and other perishable food products. The sales took place on October 8th and 13th 2009, and were made to strengthen the Company’s balance sheet in preparation for its pending East Area 1 master planned community development project in Santa Paula, California. Limoneira continues to own 665,000 Calavo shares, which represents 4.6% of Calavo’s total shares.

"The Limoneira Company remains extremely excited about the bright futures of both Calavo Growers and Limoneira," says Harold Edwards, Limoneira’s CEO. "By monetizing a percentage of our ownership in Calavo Growers we are preparing for upcoming investment requirements in our East Area 1 development project, which will assist in unlocking significant value for both Limoneira and Calavo shareholders." Calavo Growers owns 15% of Limoneira.

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Maui Land & Pineapple Reports 2009 3rd Quarter Results – Yahoo! Finance

Published on October 30, 2009 in General Ag News and Notes and Pineapple.
  • Press Release
  • Source: Maui Land & Pineapple Company, Inc.
Kapalua investment responsible for huge losses

Kapalua investment responsible for huge losses

KAHULUI, Hawaii–(BUSINESS WIRE)–Maui Land & Pineapple Company, Inc. (NYSE:MLP – News) reported a net loss of $25.5 million or $3.17 per share for the third quarter of 2009 compared to a net loss of $8.7 million or $1.09 per share for the third quarter of 2008. The loss for the third quarter of 2009 includes $22.8 million equity in losses from the Company’s investment in Kapalua Bay Holdings, LLC, compared to $5.1 million income attributable to this investment for the third quarter of 2008. Consolidated revenues were $26.7 million for the third quarter of 2009, compared to $19.1 million for the third quarter of 2008. Revenues for the third quarter of 2009 include the sale of two properties that resulted in revenues of $11.7 million. Continue reading ‘Maui Land & Pineapple Reports 2009 3rd Quarter Results – Yahoo! Finance’

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Hawaii and Related Agriculture Daily Charts for the week ending 10-23-09

Published on October 23, 2009 in General Ag News and Notes.

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The annual charts have bee updated. CLICK HERE to view. The 200 day comparative price, line and histogram charts, page has been updated also. CLICK HERE to view.

Maui Land and Pineapple (MLP) 10-23-09
Maui Land and Pineapple (MLP)

Calavo Growers (CVGW) 10-23-09
Calavo Growers (CVGW)

Alexander and Baldwin (ALEX) 10-23-09
alexweek102309

Monsanto (MON) 10-23-09
Monsanto (MON)

Syngenta (SYT) 10-23-09
Syngenta (SYT)

DUPONT E I DE NEM (DD) 10-23-09
Syngenta (SYT)
Continue reading ‘Hawaii and Related Agriculture Daily Charts for the week ending 10-23-09′

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Protection Sought for 83 Coral Species as Coral Heads for Worldwide Extinction

Published on October 21, 2009 in General Ag News and Notes.

For Immediate Release, October 20, 2009

Contact: Miyoko Sakashita, (415) 436-9682 x 308, miyoko@biologicaldiversity.org

SAN FRANCISCO— The Center for Biological Diversity today filed a formal petition seeking to protect 83 imperiled coral species under the Endangered Species Act. These corals, all of which occur in U.S. waters ranging from Florida and Hawaii to U.S. territories in the Caribbean and Pacific, face a growing threat of extinction due to rising ocean temperatures caused by global warming, and the related threat of ocean acidification. 

Scientists have warned that coral reefs are likely to be the first worldwide ecosystem to collapse due to global warming; all the world’s reefs could be destroyed by 2050.

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Learn the fundamentals before flying with fruit – Hawaii News – Starbulletin

Published on October 20, 2009 in General Ag News and Notes.

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By June Watanabe

POSTED: 01:30 a.m. HST, Oct 20, 2009

Question: Can you tell me what the rules are regarding flying to and from Hawaii with fruit? I recently went to the mainland. I thought that if I cut some mango to eat on the plane, it would be allowed since there was no peel and no seed. To my surprise, my plastic container of mango was confiscated at Honolulu Airport. The (Transportation Security Administration) guy told me that mango was only allowed out if it was frozen. But who wants frozen mango? I was in Portland, Ore., where there were so many really fresh summer fruit that we don’t grow here in Hawaii, like peaches and berries. But after my mango experience, I was afraid to bring any fruit home.

Answer: You can find travel and shipping information on what you can and cannot take out or bring into Hawaii at the state Department of Agriculture’s Web site, hsblinks.com/126.

There are links to the U.S. Department of Agriculture’s Animal and Plant Health Inspection Service (APHIS), which regulates what can be taken out of Hawaii; to Homeland Security (Customs and immigration), which regulates foreign fruits and vegetables; as well as to the state Agriculture Department’s information about what you are allowed to bring into Hawaii.

According to an official at the APHIS office at Honolulu Airport, you can’t take the majority of fresh fruits out of Hawaii. You either have to freeze or pickle the fruits. In the case of mangoes, you have to get rid of the seed as well.

If you have questions about what you can carry with you on an airplane leaving Hawaii, check the Web site hsblinks.com/vs or just call the APHIS office at 834-3220.

It’s a totally different matter if you’re bringing fruit back from the mainland. Basically, you can bring back most fresh fruits — apples, peaches, California oranges, berries, etc., as long as you declare and present them for inspection, according to a state agriculture spokeswoman.

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Hawaii Reporter: Hawaii Reporter

Published on October 20, 2009 in General Ag News and Notes.

Jones Act Lawsuit Will Test Control of Hawaii’s Shipping Monopoly

By Malia Zimmerman, 10/20/2009 5:52:42 AM

Big Island small business owner Jim O’Keefe operated the O’Keefe & Sons Bread Bakers in Hilo, Hawaii for 13 years before shutting down his extensive operation in 2008. His popular bakery closure left 50 people out of work, retail customers searching for other restaurants to buy deli and baked goods from, and several area businesses, grocery stores and resorts scrambling for other local places to buy wholesale baked foods.

The cost of doing business in Hawaii was just too high for O’Keefe to continue operating. Through his own research, he discovered that a large part of his expenses were for shipping flour and other food ingredients to the island of Hawaii.

“I would buy a 50 pound bag of flour for $6 or $7 in the mainland, and by the time it landed in Hilo, it cost me $12.50 a bag,” O’Keefe says.

O’Keefe, like virtually every other business person in Hawaii, sees the cost of goods skyrocket by the time they reach Hawaiian shores because of the Jones Act, a federal law that says all products shipped between American ports must be shipped in American made vessels by a crew that is 75 percent American. That law limits competition from world shippers, and raises the cost of doing business here, in O’Keefe’s case, by six figures over the life of his business.

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Restoring East Maui waterways considered – The Maui News

Published on October 17, 2009 in General Ag News and Notes.

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Water panel chair: ‘There’s only hard decisions to make’

By ILIMA LOOMIS, Staff Writer

POSTED: October 17, 2009

PAIA – A year after a state Commission on Water Resource Management ruling poured more than 12 million gallons of water per day back into eight East Maui streams, the panel is considering a proposal to restore water to 19 other East Maui waterways.

Taro farmers and plantation workers crowded the Paia Community Center on Thursday, each side pleading for enough water to survive. Chairwoman Laura Thielen said the commission is expected to return with its decision in December.

Without enough water available to fully satisfy all the demand, the commission will have to find a balance among traditional, agricultural and residential users that is unlikely to make everybody happy.

"Water issues are very tough issues," Thielen said. "There’s no bad people here; there’s only hard decisions to make."

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Hawaii and Related Agriculture Daily Charts for the week ending 10-16-09

Published on October 16, 2009 in General Ag News and Notes.

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The annual charts have bee updated. CLICK HERE to view. The 200 day comparative price, line and histogram charts, page has been updated also. CLICK HERE to view.

Maui Land and Pineapple (MLP) 10-16-09
Maui Land and Pineapple (MLP)

Calavo Growers (CVGW) 10-16-09
Calavo Growers (CVGW)

Alexander and Baldwin (ALEX) 10-16-09
alexweek101609

Monsanto (MON) 10-16-09
Monsanto (MON)

Syngenta (SYT) 10-16-09
Syngenta (SYT)

DUPONT E I DE NEM (DD) 10-16-09
Syngenta (SYT)
Continue reading ‘Hawaii and Related Agriculture Daily Charts for the week ending 10-16-09′

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Ruling awaited in water dispute – The Maui News

Published on October 16, 2009 in General Ag News and Notes.

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Lawyers spar over how much water to return to West Maui streams

By HARRY EAGAR, Staff Writer

WAILUKU – About 120 people crowded into Kanda Hall at Iao Congregational Church on Thursday morning for what may be the last big public session in the five-year contested case over the waters of Na Wai Eha.

The five parties to the case each had 30 minutes to make closing arguments and raise exceptions to the draft in-stream flow standards proposed by hearings officer Lawrence Miike, who is also a member of the state Commission on Water Resource Management.

As much as 70 million gallons per day is diverted from the Iao, Waihee, Waikapu and Waiehu streams, and Miike has proposed restoring nearly half that amount to the streams for "mauka-to-makai" stream flow. The commission will now consider the record and issue a decision about how much water to restore.

In recent days, street-side rallies have broken out backing one position or the other. The stakes are big.

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Summary of MAUI LAND & PINEAPPLE CO INC Credit Agreement with Wells Fargo — Yahoo Finance

Published on October 15, 2009 in General Ag News and Notes and Pineapple.

Form 8-K for MAUI LAND & PINEAPPLE CO INC

15-Oct-2009

Entry into a Material Definitive Agreement, Creation of a Direct Fin

Item 1.01 Entry into a Material Definitive Agreement.

Amended and Restated Credit Agreement with Wells Fargo

On October 9, 2009, the Company, as Borrower, entered into an Amended and Restated Credit Agreement (the "Amended Wells Credit Agreement") with each of the financial institutions that are parties thereto (the "Lenders") and Wells Fargo Bank, National Association ("Wells Fargo"), in its capacity as a Lender and as the administrative agent for the Lenders. The Amended Wells Credit Agreement amends and restates the terms of that certain Loan Agreement, dated as of November 13, 2007, entered into by and between the Company, as Borrower, each of the financial institutions that are signatories thereto, and Wells Fargo as a lender and as the administrative agent for the lenders named therein, as such was amended from time to time thereafter (the "Original Wells Credit Agreement").

The Amended Wells Credit Agreement principally amends the Original Wells Credit Agreement by:

* increasing the secured revolving line of credit from $45.0 million to $50.0 million;

* providing for the accrual of interest on the principal balance outstanding under the credit facility at (i) the LIBOR Market Index Rate plus 4.25%, (ii) the Federal Funds Rate plus 5.75%, or (iii) the applicable LIBOR Rate plus 4.25%, at the option of the Company, provided that the interest rate applicable to any portion of the principal amount outstanding under the credit facility cannot be less than 5.50%;

* extending the maturity date from March 13, 2010 to March 1, 2011; and

* establishing new financial covenants relating to, among other things, minimum liquidity requirements and total liability thresholds.

Summary of MAUI LAND & PINEAPPLE CO INC – Yahoo! Finance

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Documents Detail Layoff Criteria – KHON2.com

Published on October 14, 2009 in General Ag News and Notes.

The elimination of six plant quarantine inspectors, also within the Department of Agriculture, will limit nursery certification statewide and force cargo headed for Kauai to instead be routed to Honolulu for inspection.

Documents turned over to the Hawaii Government Employees Association last month by the Lingle administration detail the criteria used to eliminate more than 1,100 state jobs by mid November.

Khon2 obtained a copy of all 462 pages provided to the union as ordered by the Hawaii Labor Relations Board.

Department directors and supervisors were told to keep the following criteria in mind when eliminating jobs

  1. Minimize health and safety impacts.
  2. Minimize adverse impacts on service to the public and agencies involved.
  3. Prohibit the reduction of staffing levels below the minimum required to support critical program functions.

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Opinion: Plan “Bee”: Hawaii Government Stings Honey Bees | Hawaii 24/7

Published on October 14, 2009 in General Ag News and Notes.

Posted on October 13, 2009.
Sydney Ross Singer

In case you haven’t heard the buzz, the honey bee in Hawaii is gravely threatened by a newly introduced parasite, the varroa mite, which can wipe out our bee population within a few years, and is spreading across the state.

The question is, should we save the honey bees, or is the mite doing us a favor?

If you ask residents, farmers, and beekeepers, the honey bee is a blessing in Hawaii. They provide delicious honey, they help pollinate all sorts of fruit trees and crops, and they are interesting creatures to raise as a hobby. For most people, our islands would surely be less sweet without honey bees.

On the other hand, if you ask some conservationists who only value “native” species and wish to eradicate introduced ones, the honey bee is an invasive species curse in Hawaii. They compete with native pollinators, and they pollinate alien plant species that are encroaching on native forests. For these people, conservation would best be served by the eradication of the honey bee.

Unfortunately, the Hawaii government holds both of these opinions. And this spells doom for the honey bee.

Continue reading ‘Opinion: Plan “Bee”: Hawaii Government Stings Honey Bees | Hawaii 24/7′

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Local growers benefit from farm-to-table concept – Pacific Business News

Published on October 13, 2009 in General Ag News and Notes.

Kai Market’s “living wall” of herbs and spices is so popular that chefs at other Sheraton Waikiki restaurants have been known to pinch from it when in need.

The living wall is a vertical grid of mint, basil, rosemary and other plants growing under warm lights and hydrated by a hidden watering system. Kai Market has three living walls — one by the restaurant’s entrance and two by the buffet line.

The walls, created by Greg and Terry Lee of First Look Exteriors in Waipio Gentry, have helped make Kai Market a popular draw since it opened Aug. 7. The breakfasts are attracting 600 patrons a day, while dinners bring in about 100.

Sheraton General Manager Kelly Sanders got the idea for Kai Market after a visit to Hawaii’s Plantation Village in Waipahu. Trips to the Bishop Museum and Maui sugar cane fields followed.

Working with the Hawaii Farm Bureau and Armstrong Produce, Sheraton helped persuade the state Legislature to enact Act 9 this year. The law established a Department of Agriculture pilot program to encourage farmers to form ag cooperatives with hotels and restaurants and to develop a safe food-certification process.

Sanders said only 10 percent of Hawaii’s approximately 300 farmers are certified for farm-to-plate sales. A $140,000 appropriation in Act 9 will help other farmers get certification.

Continue reading ‘Local growers benefit from farm-to-table concept – Pacific Business News’

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