Reported 2 days ago
Alico Inc., a major US orange producer and Tropicana supplier, will shut down its citrus division due to long-standing declines in production caused by disease and hurricanes. The company plans to transition into a diversified land company after its current crop is harvested in 2025, as it has seen a 70% drop in citrus output over the past decade. Alico aims to keep 75% of its land agricultural while exploring commercial real estate opportunities.
Source: YAHOO