Chinese citrus producer Dongfang Modern Agriculture is forecasting record harvests across a number of crops in 2016, with orange production tipped at 20,000 tonnes, up 17 per cent on last year.
The company, which listed on the Australian Securities Exchange (ASX) last year, tips tangerine production to rise 35 per cent year-on-year to 142,000 tonnes, while its pomelo harvest is likely to yield around 54,000 tonnes, in line with last years volumes. Tangerine sales are expected to generate 60 per cent of the company’s total revenue for the 2016 financial year.
“This season we expect to deliver almost 240,000 tonnes of fruits and camellia products, an increase of 20 per cent on last season, and exceeding prospectus forecasts by 6 per cent,” said Dongfang Modern Agriculture’s executive chairman, Hongwei Cai, in a statement issued via the ASX.
“With the exception of another record harvest this season, we are nearing our estimate goal of becoming the leading citrus harvester operating within the world’s largest agribusiness market, China.”
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