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2018 Lemon Prices Expected To Rise
2018 is expected to bring in record revenue and profits for lemon growers.
Harold Edwards is CEO of Limoneira, the nation’s largest supplier. He also said the global demand for lemons continues to rise.
“We continue to see very, very robust demand for our lemons in our Southeast Asian markets, specifically in the Japanese market, in the Korean market, Hong Kong and the Chinese market," Edwards said. "And with that increased demand, you’re seeing more restricted supplies servicing the North American markets and the conventional European markets."
Harvesting season just ended in Yuma, where Limoneira grows its fall crop. Edwards said harvest was slightly delayed by extreme heat this year in the Arizona desert.
Edwards also said wildfires caused about $1 million of property damage to 50 of Limoneira’s 12,000 acres in Southern California, where a Limoneira property called Rancho la Cuesta was burned.
“It wiped out 14 trailers in a workforce trailer park that we own and operate for our workforce, out of 38 trailers that we had in there," he said. "The good news is nobody got hurt and we got everybody out safely.”
Quarterly earnings will be announced Jan. 8.