Alico, Inc., of Fort Myers, FL has announced a strategic transformation to become a diversified land company with each of its properties now expected to create profitable agricultural revenue opportunities that are not citrus-related until the Highest and Best Use (“HBU”) for these acres can be realized, according to a press release.
Alico owns approximately 53,371 acres of land across eight counties in Florida, as well as approximately 48,700 acres of oil, gas and mineral rights in the state. Alico Citrus, which holds the Company’s citrus production operations, has faced increasing financial challenges from citrus greening disease and environmental factors for many seasons.
The Company has decided to not spend further capital on its citrus operations after the current crop is harvested in 2025. It will focus its resources on creating new opportunities for profitable growth while also acting prudently on behalf of shareholders.
Alico expects to maintain its commitment to the Florida agriculture industry through diversified farming operations on nearly all its land holdings following this citrus production transition. Alico also expects to entitle certain parcels of its land for commercial and residential development. The Company believes these strategic decisions improve its ability to provide investors with a greater return on capital that includes the benefits and stability of a conventional agriculture investment, with the optionality that comes with active land management.
“For over a century, Alico has been proud to be one of Florida’s leading citrus producers and a dedicated steward of its agricultural land, but we must now reluctantly adapt to changing environmental and economic realities. Our citrus production has declined approximately 73% over the last ten years, despite significant investments in land, trees and citrus disease treatments, and the current harvest will likely be lower in volume than the previous season.
“The impact of Hurricanes Irma in 2017, Ian in 2022 and Milton in 2024 on our trees, already weakened from years of citrus greening disease, has led Alico to conclude that growing citrus is no longer economically viable for us in Florida,” said John Kiernan, Alico’s President and Chief Executive Officer.
“This difficult decision is expected to provide Alico with a more stable future while maintaining our deep roots in agriculture by meaningfully reducing our working capital requirements for annual citrus production, reducing financial volatility and allowing the Company to focus on profitable non-citrus agricultural opportunities and entitlement work to achieve the HBU for all properties in our real estate portfolio.”
Alico plans to wind down Alico Citrus’ primary operations, which will include reducing most of its citrus production workforce effective immediately. The Company expects that approximately 3,460 citrus acres will be managed by third-party caretakers for another season through 2026.
Mr. Kiernan continued, “This strategic transformation is expected to provide Alico with a more stable future while maintaining our deep roots in agriculture. We recognize the personal impact this decision has on our valued employees and the Company is supporting them through this transition. Through these operational changes, Alico will remain a responsible corporate citizen and steward of both our land and communities, just as we have done for more than 125 years. For decades, while maintaining its agriculture leadership, Alico has opportunistically sold land in Florida for responsible purposes that benefit both the local communities and our shareholders, such as the approximately 40,000 acres of the Alico Ranch that were sold to the State of Florida since 2017 and the 760 acres of land donated in 1992 to establish Florida Gulf Coast University. We’ve explored all available options to restore our citrus operations to profitability, but the long term production trend and the cost needed to combat citrus greening disease no longer supports our expectations for a recovery. Alico thanks our entire Alico Citrus team for their unwavering dedication, hard work, and perseverance. Despite our collective efforts, Alico believes that this strategic decision is not only correct but essential. We remain committed to creating opportunities that will maintain our legacy of stewardship while also acting prudently on behalf of our shareholders, including working with local municipalities to develop plans that will benefit their Florida communities.”
Under this new strategy, Alico:
Expects to recognize positive cash flow for the remainder of the current fiscal year once land sales that have already been negotiated close, severance and restructuring costs are realized, and harvesting activities conclude.
Anticipates that cash reserves at the end of the 2025 fiscal year will be sufficient to meet future operating expenses for at least two additional years without any additional land sales being required.
Estimates that approximately 75% of its current land holdings are likely to remain agriculturally focused for the foreseeable future.
Expects that approximately 25% of its land holdings have near- and long-term potential for commercial and residential development, with approximately 10% of its acres targeted for development within the next five years.
Management estimates that the value of our current landholdings could be worth approximately $650 million to $750 million, with 75% of these acres valued for agriculture usage.
About Alico Alico, Inc. currently operates two divisions: Alico Citrus, currently one of the nation’s largest citrus producers, and Land Management and Other Operations, which include land leasing and related support operations. While Alico Citrus will cease operations after the 2024/2025 harvest due to environmental and financial challenges, Alico remains committed to Florida’s agriculture industry, and will focus on its long-term diversified land usage and real estate development strategy. Learn more about Alico (Nasdaq: “ALCO”) at www.alicoinc.com.
Maersk and Hapag-Lloyd, two of the world’s leading shipping companies, announced recently they will not be returning to the Red Sea immediately following the ceasefire announcement between Hamas and Israel.
Hapag-Lloyd reports the company is closely monitoring the conflict in the Red Sea and wants to resume operations as soon as they are safe.
Maersk reports it is still too early to speculate about timing.
Hapag-Lloyd had already give notice in June a ceasefire would not mean an immediate resumption of passage through the Suez Canal, as attacks from Yemen-based Houthi militants, could still be possible.
Rearranging the schedule takes four and six weeks.
Disruptions in the Middle East have caused shipping companies to divert their vessels towards longer routes. These companies often force their container ships around Africa’s Cape of Good Hope, pushing freight rates higher and disrupting global ocean shipping.
California grower and shipper Fruit World is experiencing a strong organic and conventional mandarin season, with this year’s organic clementines in particular showing notably high sugar levels. The overall quality is exceptional, with both flavor and appearance meeting high standards, the company said in a release.
Bianca Kaprielian, the founder and CEO of Fruit World, based in Reedley, CA, explains that the season started with organic Clementines from Sky Ranch, the family’s property, and that these fruits are performing especially well.
“These mandarins are always special, but this year they are exceptional,” she noted. Other organic varieties, including Satsumas, also exhibit higher-than-average sugar content for this season. With an abundant crop, Fruit World anticipates a continued supply of fruit throughout the season.
In addition to mandarins, the firm is also offering a variety of other organic fruits, including Navel oranges, lemons, grapefruit, and soon, Cara Caras, Buddha’s Hand, Mandarinquats, and Limequats.
A recent desert freeze in California and Arizona is the most serious thus far this winter. Damage to lettuce needs to be closely watched by haulers to help reduce chances of claims at destination.
In a press release, Markhon Cooperative of Salinas, CA recently assessed the current situation.
• Widespread, moderate-to-heavy lettuce ice is expected throughout this entire week in all Arizona and California desert growing areas • Harvesting delays of three to four hours are being reported; loading delays can also be expected • This significant freeze event will have lasting effects on the quality of many desert row crop items • Lettuces and tender leaf items are the most susceptible to freeze-related quality and shelf-life challenges • Apart from quality, plant growth will also be affected as ground temperatures decrease this week • Markon inspectors are monitoring conditions and will update further as needed
The recent California wildfires have left a haunting mark on our communities and hearts. At the Allen Lund Company, headquartered in La Cañada Flintridge, our employees experienced this devastation firsthand. Between the Palisades and Eaton fires, many of our team members (and family and friends) faced mandatory evacuations as the fires blazed through the surrounding cities, threatening homes, beloved restaurants, and landmarks that have long been central to our lives. Entire neighborhoods have been reduced to ash, and the impact is felt in every corner of our community. Families are displaced, cherished memories lost, and the collective sense of security is shaken.
Yet, amid the destruction, we’ve witnessed incredible resilience and humanity. Neighbors helping neighbors, first responders risking everything to save lives, and countless acts of kindness remind us of the strength within our community. The transportation and logistics industry plays a critical role in ensuring resources like food, water, and building materials reach those in need. Together, we are not just moving freight but helping rebuild lives.
As we look to the future, we focus on coming together to heal and rebuild. The fires may have destroyed physical structures, but they cannot extinguish the spirit of our community. At the Allen Lund Company, we are committed to supporting our neighbors, customers, and team members as we navigate this recovery together. Whether through donations or simply showing up for one another, we know that unity is the foundation for rebuilding stronger than ever.
Over 150,000 tons of avocados will be shipped from Michoacán to the United States for the 59th edition of the Super Bowl on Feb. 9, according to the head of Mexico’s Secretariat of Economic Development (Sedeco), Claudio Méndez Fernández.
El Sol de Zamora informs that production corresponds to that harvested in the municipalities of Acuitzio, Tacámbaro, Peribán, Tancítaro, and Uruapan.
The Super Bowl is one of the main events for the avocado industry in the U.S., along with Cinco de Mayo celebrations.
“Demand is growing year by year. The Super Bowl is when avocados are sold the most in the United States. The second date is May 5th, because it has become part of the gastronomy and diet of the citizens,” Méndez said.
Last year, around 54 million avocados were consumed on Super Bowl Sunday alone, making them one of the favorite foods of American football fans.
“Consumer consumption for avocados that are used to make guacamole significantly increases during Super Bowl Sunday,” according to the USDA. “Regarding increased sales, avocados are the real Super Bowl champion.”
FreightWaves reports more than 90% of avocado imports from Mexico enter the U.S. through Texas ports of entry in Laredo and Pharr.
Between January and November of last year, Peruvian fresh blueberry exports set a new record.
Agraria reports for the first time, an agricultural product has surpassed the $2 billion mark in exports. Those exports totaled $2.1 billion in the first eleven months of 2024. This far surpassed the $1.72 billion reached during all of 2023. This signaled a return to the normal trend in the production of “blues” after weather related problems of the previous year.
This year, with stabilized production, the higher prices recorded after the 2023 shortage showed a downward trend, reaching levels closer to 2022.
In November 2024 alone, Peruvian fresh blueberry exports totaled 80,311 tons for $387 million, reflecting an increase of 106 percent in volume and 18 percent in value compared to what was reported in the same month of the previous year, although with a 43 percent drop in the average price, which stood at $4.82 per kilogram.
The Peruvian product reached 31 countries in November, of which the U.S. continued to be the main destination, with 41,269 tons exported for $190 million. This represented 49 percent of the monthly total with a 75 percent increase in volume, but a 10 percent drop in value compared to November 2023, when shipments reached $210 million.
The average price suffered a decrease of 48 percent, going from $8.92 in 2023 to $4.61 this year.
Among the main exporters to this market were Camposol S.A., with a 12 percent share, and Agrovisión Perú S.A.C., with 11 percent. In 2023, the leaders were Agrícola Cerro Prieto S.A. (13 percent) and Hortifrut – Perú S.A.C. (12 percent).
As for shipments, these were mostly sent by sea, where 41 percent of what was exported in November was through Euroandino Port Terminals, followed by DP World (28 percent), APM Terminals (25 percent) and the General San Martín Paracas Port Terminal (5 percent).
The remaining 1 percent was sent through Jorge Chávez International Airport.
The industry will experience a 25-30% avocado shortage through January. USDA inspections were curtailed over the last two holiday weeks; inclement weather has also caused trucking delays. Expect extremely limited supplies and increased prices for the next two weeks, according to a press release by Markhon Cooperative of Salinas, CA.
Mexico
All sizes are extremely tight
Size and grade substitutions may be requested to fill orders
Quality is good; checkerboarding (uneven ripening within a case) has been reported
Expect elevated markets and tight supplies through the next two weeks
Colombia
Imports will ship into the East Coast through May; these supplies only account for 5% of U.S. demand
The crop is currently dominated by small sizes (60- to 84-count fruit)
Quality is comparable to that in Mexico; texture is creamy and oil content is high
California
Regular inspection schedules will resume in mid-January
New crop production will start in late January
Once this season begins, supplies will help fill the void from Mexico-grown product
Caution is urged loading melons from Central America, which is arriving at various U.S. port, as well a crossing the border at Nogales, AZ.
Markon Cooperative of Salinas, CA in a press release reports Central American melon supplies are extremely limited following the effects of Tropical Storm Sara. Markets are elevated; demand exceeds supply and quality issues abound.
Cantaloupe
Central American
Offshore shipments of Central American cantaloupes are arriving by vessel into domestic ports; volume is extremely limited
Quality issues are arising from flooding brought by Tropical Storm Sara; yields are lower in Guatemala, Honduras, and Costa Rica
Projections for upcoming lots are minimal
Markon recommends increased order lead time to maximize coverage over the next three to four weeks; size substitutions may be recommended
Expect elevated markets and light supply through early January
Honeydew
Central American/Mexican
Mexican volume is light crossing into Nogales, Arizona as growers finish their season in Northern Mexico; light volume will continue to ship from Southern Mexico through February
Offshore/Central American honeydews are arriving by vessel into domestic ports; volume is extremely limited
Quality issues are arising from flooding brought by Tropical Storm Sara, resulting in lower yields in Guatemala, Honduras, and Costa Rica
Projections for upcoming lots are minimal
Markon recommends increased order lead time to maximize coverage over the next three to four weeks; size substitutions may be recommended
Expect limited supplies and elevated markets through early January
The commission called the move a significant step toward ensuring food labeling is consistent with the most up-to-date nutrition scientific evidence and Dietary Guidelines for Americans recommendations.
The 2020-2025 Dietary Guidelines for Americans encourages consumers to choose nutrient-dense foods, such as walnuts. The commission said close to two-thirds of Americans do not meet the recommended intake for nuts and seeds.
“The inclusion of walnuts in the new ‘healthy’ definition affirms consumers’ belief that walnuts are a healthy food. It also aligns with decades of nutrition research reinforcing the important contributions walnuts can make in a healthy lifestyle,” California Walnut Commission CEO Robert Verloop said in a news release. “It’s simple. Just adding walnuts to Americans’ daily diet can potentially have wide-ranging positive impacts.”
Substituting walnuts for food choices higher in saturated fats can help support Dietary Guidelines for Americans recommendations to replace consumption of saturated fats with unsaturated fats, the commission said.
The total fat in walnuts (18 grams) is mostly composed of polyunsaturated fats (13 grams per ounce), including omega-3 ALA (2.5 grams per ounce), an essential fatty acid with the potential to support heart health and cognition, according to the release. Walnuts are the only tree nut to provide an excellent source of omega-3 ALA.
“In my 20-plus years of practicing nutrition at a major medical institution, I have seen trends go in and out for what the public considers healthy,” said Kristin Kirkpatrick, registered dietitian nutritionist. “But what has always been foundational is the role plant-based foods like walnuts play in supporting health. Walnuts are one nut I find consistently meets the variable needs of patients in my practice. In practice, I focus on evidence-based approaches to reducing chronic disease risk, weight management, and improvements in metabolic health.”
Michoacán to the United States for the 59th edition of the Super Bowl on Feb. 9, according to the head of Mexico’s Secretariat of Economic Development (Sedeco), Claudio Méndez Fernández.
