How heavy rains produced unusually large lemons—and what it means for your grocery store.
That's what more consumers in Southern California may have to do after one of the state's largest lemon producers, Limoneira, faced an unusual problem with this year's yield.
The trees produced an abundance of larger lemons that created an oversupply in the market and lessened demand from grocery stores. As a result, carton prices were lower on average and packaging costs per carton increased, Limoneira explained in a press release on Wednesday. The wholesale price of lemons in the U.S. per kilogram is $1.84, which is down 39% from last year, and the average production price is $784 per metric ton, according to global food market intelligence company Tridge.Edwards added that for fiscal 2020,"we are well-positioned for a return to solid growth and improved profitability" based on Limoneira's expected organic lemon growth and recent acquisitions.
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