Tejon Anticipates Higher 2024 Almond Industry Crop Production; May Have Adverse Effect On 2024 Selling Prices
Portfolio Pulse from Benzinga Newsdesk
Tejon Ranch Co. (TRC) anticipates an increase in almond industry crop production for 2024, which may negatively impact the selling prices of almonds next year.

May 07, 2024 | 1:23 pm
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Tejon Ranch Co. anticipates higher almond production in 2024, which could lead to lower selling prices and potentially affect revenue.
Higher crop production typically leads to an oversupply in the market, which can drive down prices. For TRC, a company involved in almond production, this could mean lower selling prices for their almonds, potentially reducing their revenue from almond sales in 2024. The anticipation of this scenario is based on the company's own projections, making it directly relevant to their financial outlook.
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