Asian Citrus's winter crop deal lacks appeal

Asian Citrus, the Chinese orange plantations owner, has negotiated a tiny year-on-year increase in the average selling price of its winter orange crop from its Hepu and Xinfeng plantations.

Asian Citrus, the Chinese orange plantations owner, has negotiated a tiny year-on-year increase in the average selling price of its winter orange crop from its Hepu and Xinfeng plantations.

The share price fell to a 52-week low after it said the negotiated increase in price on its winter crop is less than 1% higher than last year's. The shares have lost a fifth of their value so far in November in what has been a torrid month; on November 6th non-executive director Ip Chi Ming failed to get re-elected at the firm's annual general meeting, while on November 9th the share price was knocked by a 50m shares sale by an investment vehicle controlled by Asian Citrus's Chairman, Tong Wang Chow.

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