Select Harvests downgrades almond crop estimates

Company News

by Roma Christian

Select Harvests (ASX:SHV) has downgraded its almond crop estimates for 2017 at its Carina West Processing Facility in Victoria.

The nut and health food company reduced its estimate to between 13,500 – 14,000MT.

Despite the downgrade, Select Harvests says this will be the second largest crop in the company’s history.

Select Harvests’ almond price estimates are between $7.50 - $8.00 per kilogram.

The company also says it has sales commitments for 60 per cent of the crop at these prices.

Shares in Select Harvests (ASX:SHV) are trading 12.42 per cent lower at $4.23.