Tag: loss

August 12, 2009 General Ag News and Notes Post a Comment

CALAVO fails marketing goals

Calavo Growers (CVGW) has been added to the Hawaii Agriculture Blog “Hawaii Agriculture and Related Stocks Annual Charts” page to show the contrast of their lack of success in marketing fresh pineapple in California with the success of their stock performance.

Calavo Chairman, President and CEO Lee E. Cole on the favorable implications of the sales marketing and distribution agreement of Maui Gold Pineapple for Calavo

“First, we anticipate that sales of Maui Gold fresh pineapples will contribute $25-30 million in revenues to Calavo’s top line in fiscal 2008, as well as become immediately accretive to earnings.”

calavao-vs-mlp
As opposed to Maui Land and Pineapple Company’s Inc (MLP) filed Quarterly Report (10-Q) for the period ended 2009-06-30.

Revenues for the Agriculture segment decreased by 14%, or $749,000, from $5.3 million for the second quarter of 2008 to $4.5 million for the second quarter of 2009, primarily due to a reduction in pineapple juice sales volume and lower average prices for fresh pineapple. Pineapple juice sales represented approximately 5% of the Agriculture segment revenues in the second quarter of 2009 compared to approximately 13% of Agriculture segment revenues in the second quarter of 2008. The Agriculture segment reported an operating loss of $5.0 million for the second quarter of 2009 compared to an operating loss of $4.6 million for the second quarter of 2008. The operating loss for the second quarter of 2009 includes a charge of $1.9 million representing an adjustment to the fair value less selling costs of our property in Kahului that includes our fresh fruit processing plant. The Kahului property is currently held for sale.

May 4, 2009 General Ag News and Notes

Maui Land & Pineapple Reports 2009 1st Quarter Results

Maui Land & Pineapple Company, Inc. (MLP) reported a net loss of $13.2 million or $1.65 per share for the first quarter of 2009 compared to a net loss of $414,000, or $0.05 per share for the first quarter of 2008. Consolidated revenues were $15.6 million for the first quarter of 2009 compared to $25.4 million for the first quarter of 2008, a decrease of 39%. Results in the first quarter of 2009 largely reflect the continuing impact of the national and worldwide economic uncertainty that has resulted in reduced visitor counts to Maui and the State of Hawaii and slower sales of real estate. Approximately $10.5 million of the increase in the net loss resulted from the year-over-year decrease in profit from the Company’s equity investment in Kapalua Bay Holdings LLC. The Company’s $50 million cash sale of the Plantation Golf Course in March 2009 was accounted for as a financing transaction and, accordingly, no gain was recognized in the first quarter of 2009.

The Community Development segment reported an operating loss of $3.2 million for the first quarter of 2009 compared to operating income of $8.1 million for the first quarter of 2008. Revenues from this operating segment were $2.0 million for the first quarter of 2009 compared to $4.6 million for the first quarter of 2008. The Company recorded a loss from Kapalua Bay Holdings, LLC of $1.1 million in the first quarter of 2009 compared to income of $9.4 million in the first quarter of 2008. Lower results in 2009 from the Kapalua Bay equity investment reflect reduced sales for the first quarter of 2009 compared to the first quarter of 2008. Lower results from the Community Development segment in the first quarter of 2009 were also due to no land sales in the first quarter of 2009, compared to the sale of two non-core land parcels in the first quarter of 2008.

The Resort segment reported an operating loss of $4.2 million for the first quarter of 2009 compared to an operating loss of $2.3 million for the first quarter of 2008. Resort segment revenues decreased from $11.7 million in the first quarter of 2008 to $8.6 million for the first quarter of 2009 or 26%, reflecting lower revenues from the primary Resort operations, golf, retail and villas. A reduction in visitor arrivals and occupancy at the Resort was primarily responsible for the lower results in the first quarter of 2009.

The Agriculture segment produced an operating loss of $3.5 million for the first quarter of 2009 compared to an operating loss of $5.1 million for the first quarter of 2008. Revenues from the Agriculture segment decreased by 42% from $8.5 million in the first quarter of 2008 to $4.9 million in the first quarter of 2009 due to lower case volume of fresh pineapple sales. The lower loss in the first quarter of 2009 reflects higher average prices for fresh pineapple and lower operating costs in the Agriculture segment. In addition, the operating loss for the first quarter of 2008 included approximately $0.9 million in equipment write-offs and a provision of $0.9 million for potentially uncollectible accounts receivable.

MAUI LAND & PINEAPPLE COMPANY, INC.
Report of Consolidated Operations
(Unaudited)
(in thousands except per share amounts)
mlploss1
NOTES:
The Company’s reports for interim periods utilize numerous estimates of production, general and administrative expenses, and other costs for the full year. In addition, revenues from land sales are sporadic. Consequently, amounts in the interim reports are not necessarily indicative of results for the full year.
Contacts:
For Maui Land & Pineapple Company, Inc.
Robert I. Webber, 808-877-1674
Fax: 808-877-1614

October 30, 2007 Disaster Preparedness, Flowers & Nursery, General Ag News and Notes, Ginger Root, Orchids, Papaya, Persimmon, Vegtables, Watermelon Post a Comment

Disaster Preparedness

Disaster Preparedness
How Prepared is Your Farming Operation?

Maui Extension Office
Monday, November 26, 2007
11 am ? 1:30 pm

Natural disasters, such as droughts, floods, wild fires, hurricanes, pests, and diseases, can cause excessive economic damage to agricultural production. In addition to crop damage, disasters can also affect farm buildings, machinery, animals, irrigation, family members and employees. Disasters along with marketing difficulties can lead to serious downturns in your farm income.

How prepared are you? This workshop is designed to provide you with information on:
1) preparing your operation for a natural disaster and
2) available and affordable crop insurance programs that minimize risk associated with economic losses.
Note: Now that the “Adjusted Gross Revenue” (AGR) insurance is available for 2008, in effect all Hawaii crops can be insured to some degree ? not just bananas, coffee, papayas, macnuts & nursery.

Speakers:
? USDA Farm Service Agency (FSA) administers and oversees farm commodity, credit, conservation, disaster and loan programs. These programs are designed to improve the economic stability of the agricultural industry and to help farmers adjust production to meet demand.

? USDA Risk Management Agency Western Regional Office, Davis. USDA RMA helps producers manage their business risks through effective, market-based risk management solutions.

? John Nelson from the Western Center for Risk Management Education (Washington State University) on the new Adjusted Gross Revenue (AGR) Insurance.

? Dr. Mike Fanning, Executive Vice President, AgriLogic, is a specialist in Agri-Terroism, crop insurance, farm policy analysis, and individual farm risk management.

? Dr. Kent Fleming, an agricultural economist with the University of Hawaii’s College of Tropical Agriculture and Human Resources (CTAHR), is an Extension Farm Management Specialist with a focus on risk management education.

The workshop is FREE and lunch (sandwiches or bentos and drinks) will be provided. For more information, visit the website http://www.ctahr.hawaii.edu/agrisk/ You may also contact Kent Fleming @ 989-3416 or fleming@hawaii.edu or Jan McEwen @ 244-3242 or jmcewen@hawaii.edu

Please call the Maui Extension Office at 244-3242 by November 21, 2007 to register for this seminar.

September 30, 2007 General Ag News and Notes, Vegtables Post a Comment

Hawaii Crop Weather Weekly Report

Here is the PDF file for the Hawaii Crop Weather (crop progress and condition) Report for the week ending September 30, 2007.
Please visit the website for more information: http://www.nass.usda.gov/hi/

current_hi093007.pdf

USDA NASS Hawaii Field Office
1421 South King Street
Honolulu, HI 96814-2512
1-800- 804-9514

Agricultural Highlights

Fruits

Bananas
Light showers and some sunny periods benefited orchards in the windward areas of the Big Island. Soil moisture was ample and harvesting was active. Oahu orchards were in fair to good condition. Leeward and central Oahu fields were in good condition with heavy to moderate supplies for the market. Heavy irrigation continued as fields remained dry. Windward Oahu fields were in fair to good condition with light to moderate supplies. Overall harvesting on Oahu was expected to be at moderate to heavy levels as the shorter day length and slightly cooler temperatures have slowed ripening. Orchards were in fair to good condition on Kauai. Supplies are expected to be light to moderate, but steady, for on island sales. Spraying for insect infestation was on a regular schedule.

Papayas
Good growing conditions benefited orchard development in the lower Puna areas of the Big Island. Frequent passing showers kept soil moisture adequate. Growers were spraying to try to keep weeds under control. Harvesting in the Opihikao, Pohoiki, and Kapoho areas remained active. Fallowed fields in the Kapoho area were cleared and planting has started. Overall harvesting on Oahu was at moderate levels with some orchards being re-worked for future harvest after being damaged by a wildfire. In other areas, fruit development and ripening were fair to good with the relief from the high temperatures favoring crop progress. Orchards on Kauai continued to make good to fair progress during the week. Pickings were at moderate levels from several fields in harvest with some new fields boosting available supplies.

Vegetables

Head Cabbage
The crop in the Waimea area of Hawaii Island was in fair to good condition. Medium-sized heads were being harvested. Insect and disease damages were generally light. Heavy irrigation was required in the Waimea fields. Growing conditions improved slightly in the Volcano area. Maui?s crop continued to show good progress. However, most fields showed slightly slowed growth and development which was expected for this time of the year. Insect pressure was relatively low, but could increase over the next couple of weeks. Producers were able to control damage and keep losses to a minimum. Plantings have been steady, but the continued shortening of the day length has slowed the rate of growth and development. Overall quality of the crop was good. On Oahu, pressure from Insect infestation was very light.

Cucumbers
Harvesting from Oahu fields was expected to be at heavy levels as several fields were in active harvest. Pressure from insect infestation was light to moderate.

Sweet corn
The Big Island crop was in fair to good condition. Soil moisture was adequate and production will be mainly for on-island consumption. Windward and central Oahu fields continued to make good progress due to sunny skies and heavy irrigation. Areas affected by water use restrictions have cut back on planting activities and have experienced decreased yields.

Dry onion
Maui?s younger fields showed good progress under cooler growing conditions. There were reports of increased insect pressure throughout the growing area which could affect production for older developing fields. Producers were trying to control insect pressure, but it has been challenging. Harvesting has been light. Overall, the dry onion crop was in fair condition. Other Crops

Coffee
Coffee orchards in the upper areas of Kona were in fair to good condition. Soil moisture was adequate. Cherry harvest was in progress. Most of the coffee trees in the Ka?u district have branches full of still green cherries. Harvesting is expected to begin soon. Orchards on Kauai were in good condition with active harvesting anticipated to continue. Sunny days and moderate trade winds kept fields in good condition for harvesting. Beneficial rains in the upper elevations increased the water levels of reservoirs used for irrigation.

September 20, 2007 Papaya Post a Comment

HAWAII FRUITS ANNUAL SUMMARY

Here is the PDF file for the HAWAII FRUITS ANNUAL SUMMARY Report.

fruit102007.pdf

Please visit the website for more information: http://www.nass.usda.gov/hi/

————————————————————-
Contact Information:
Mark E. Hudson, Director
USDA NASS Hawaii Field Office
1421 South King Street
Honolulu, HI 96814-2512

Office: (808) 973-9588 / (800) 804-9514
Fax: (808) 973-2909
————————————————————-

2006 HAWAII FRUIT OUTPUT AND VALUE DECLINE

Hawaii fruit growers harvested 435.2 million pounds of fruit for fresh and processed utilization in 2006, an 11 percent decline from the previous year, according to the USDA, NASS, Hawaii Field Office. Total value fell 3 percent to $101.7 million, with guava, lemon, papaya, pineapple, and the tropical specialty group recording declines in value of sales. Fruit acreage totaled 19,740 acres, a 2 percent decrease from 2005. Harvested area decreased 6 percent to 4,090 acres. Almost continuous rainfall from late February through March contributed to losses in some crops due to soil erosion, flooding, disease outbreaks, and fruit and tree losses. The lengthy rainy period slowed fruit maturation in some crops.

Pineapple, still Hawaii?s largest fruit commodity, represented 70 percent of total fruit acreage and 74 percent of the total fruit value. Total utilized pineapple production fell 11 percent to 376 million pounds. Since records were kept by the Hawaii Field Office, 2006 was the first year fresh market utilization outweighed processed utilization. Also establishing a record was the average farm price. In late 2006, operations ended prematurely for one major company which had previously announced their phase-out of pineapple production.

The state?s papaya producers devoted 2,095 acres toward papaya production, a decrease of 13 percent from the previous year. Harvested area totaled 1,530 acres, 3 percent more than 2005. Papaya output declined 13 percent to 28.7 million pounds while value of sales dropped 2 percent to $11.0 million.

Total banana acreage rose 5 percent in 2006 while harvested acreage increased 2 percent to 1,000 acres. Utilized production was pegged at 20.0 million pounds, 4 percent less than 2005. However, higher average prices helped push total value of sales to $9.8 million, 7 percent higher than the previous year.

Total guava production area declined 14 percent to 575 acres in 2006 while area harvested declined 41 percent to 365 acres. Value of sales declined 7 percent to $1.1 million. Hawaii?s guavas, which are mainly for the processed market, recorded a 2 percent increase in price. However, this was not enough to offset the 9 percent lower output.

Area devoted to tropical specialty fruit totaled 1,240 acres in 2006, 2 percent less than 2005. Area harvested totaled 690 acres, 5 percent lower than the previous year. Hawaii?s growers of tropical specialty fruit produced and sold an estimated 1.45 million pounds of fruit in 2006, relatively unchanged from 2005. Compared with 2005, higher output was registered for longan, lychee, mango, and persimmon. Value of sales was pegged at $2.6 million in 2006, 4 percent lower than 2005.

September 18, 2007 General Ag News and Notes, Papaya Post a Comment

Hawaii Papayas Report

Here is the PDF file for the Hawaii Papayas Report.

papaya100107.pdf

Please visit the website for more information: http://www.nass.usda.gov/hi/

————————————————————-
Contact Information:
Mark E. Hudson, Director
USDA NASS Hawaii Field Office
1421 South King Street
Honolulu, HI 96814-2512

Office: (808) 973-9588 / (800) 804-9514
Fax: (808) 973-2909
————————————————————-

“HAWAII PAPAYAS” reports are available on our website and also PRINTED monthly. Subscriptions for PRINTED copies are free to those persons who report agricultural data to NASS (upon request) and available for $4 per year to all others.

AUGUST FRESH PAPAYA HIGHER

Hawaii fresh papaya utilization is estimated at 2.4 million pounds for August 2007, up 1 percent from July 2007 and 9 percent higher than August 2006. Year-to-date sales totaled 17.8 million pounds, 5 percent above the comparable period last year.

August weather was mainly sunny with occasional showers benefiting orchard growth and development. Irrigation was stepped up to replenish soil moisture levels. Spraying to control insects and diseases was ongoing. In preparation of Hurricane Flosse?s strong winds, growers trimmed leaves from mature trees to prevent uprooting. Fortunately, it was downgraded to a tropical storm and passed with no damage to orchards. Newly planted acreage made favorable progress. Maturing fields were in the flowering and fruiting stages.

Papaya growers are expected to receive an estimated 40.0 cents per pound for fresh fruit in August, 15 percent (7.0 cents) less than July 2007 and 17 percent (8.1 cents) below August a year ago.

Papaya Acreage Survey 2007 Results

In August 2007, there were 125 farms reported on Hawaii County, unchanged from August 2006. The county still accounts for the majority of the State?s total papaya acreage and bearing acreage. Honolulu/Kauai/Maui County reported 53 growers compared to 45 growers a year ago.

Some growers commented on the challenges of growing papayas with continuous dry weather and the lack of natural rainfall, fire damage, and problems with insects, diseases, and wild pigs. Others had marketing and economic issues with low prices and the increasing cost of returns to maintain healthy papaya orchards. These concerns were influencing their decisions on whether to continue growing papayas. Some orchards reported doing well with no major incidences.

State 2007 Variety Summary

In August 2000, Rainbow and Kapoho ranked as the top two varieties Statewide with 42 and 37 percent, respectively. Over the years, a higher percentage of Rainbow has been planted. In August 2007, Rainbow and Kapoho accounted for 68 and 17 percent, respectively. Sunrise variety represented 8 percent of the acreage grown followed by ?Other? varieties making up 7 percent.

In August 2007, Rainbow represented 62 percent of the bearing acreage Statewide compared to 57 percent in August 2006. Kapoho comprised of 22 percent of the bearing acreage compared to 27 percent a year ago. Sunrise and ?Other? varieties contributed 8 percent each to the bearing acreage.

In August 2000, Hawaii County had 2,050 acres planted in papayas, Kapoho (49 percent), Rainbow (45 percent), and ?Other? varieties (6 percent). Annual survey indications show there has been a trend in growing more Rainbow. In August 2007, Rainbow acreage distribution accounted for 75 percent, Kapoho 19 percent, and ?Other? varieties 6 percent.