Alico Enters New Supply Contract With Tropicana; Effective June 5, 2024 Through July 31, 2027; Subject To Terms And Conditions
Portfolio Pulse from Benzinga Newsdesk
Alico has entered a new supply contract with Tropicana, effective from June 5, 2024, to July 31, 2027. The contract covers citrus fruit grown on 65% of Alico's planted acres and offers prices 33% to 50% higher than the previous season's average. This new agreement succeeds existing contracts expiring in July 2024.
June 10, 2024 | 12:05 pm
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Alico has secured a new supply contract with Tropicana, effective from June 2024 to July 2027, with prices 33% to 50% higher than the previous season's average. This is expected to positively impact Alico's revenue.
The new supply contract with Tropicana ensures higher prices for Alico's citrus fruit, which will likely lead to increased revenue. The contract's long-term nature (2024-2027) provides stability and predictability for Alico's financial performance.
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