logo
Vietnam's Coffee Crop Set for Higher Yields From Ample Rainfall

Vietnam's Coffee Crop Set for Higher Yields From Ample Rainfall

Bloomberga day ago

By and Nguyen Dieu Tu Uyen
Save
Vietnam's coffee crop is off to a strong start as heavy rainfall bolstered the supply outlook, which could put further pressure on global prices that are near a seven-month low.
'The weather has been quite favorable for coffee trees, with a lot of rain over the last few weeks,' said Trinh Duc Minh, chairman of the Buon Ma Thuot Coffee Association in Dak Lak. The precipitation came at the right time, when the trees needed water for fruiting, he said, adding that it also helped cut irrigation costs, allowing farmers to spend more on fertilizers.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

South African Weather Services issues warning on cold front this weekend
South African Weather Services issues warning on cold front this weekend

News24

time2 hours ago

  • News24

South African Weather Services issues warning on cold front this weekend

It's been only just a few days since the official start of Winter and yet the South African Weather Services (SAWS) has released a weather warning ahead of the weekend of June 7, 2025. South Africans have been cautioned to prepare for a severe weather spell, with snowfall and strong storms predicted, as a strong Cut-Off-Low (COL) system is expected to bring extreme weather for almost the whole country except Limpopo this weekend. SAWS anticipates that the system would first affect the Western and Northern Cape before moving towards the eastward throughout the entire country in the beginning of next week. Read more | 'That man raised me' – The River cast breaks down at Presley's memorial The central and eastern provinces will be affected by it by Monday and Tuesday, as temperatures will drop sharply and a variety of adverse weather conditions will occur, and threats of damage to infrastructure/properties. Read more | Babes Wodumo reflects on musical comeback and Mampintsha - 'I miss his jokes' Moreover, there's warnings about frigid winds that will make it even colder, and daytime temperatures are predicted to drop dramatically, barely rising above 10° Celsius in several places. Furthermore, major routes, including the N3 highway at Van Reenen's Pass, are said to be impacted by these snowy conditions, which could result in road closures or dangerous driving conditions from Monday and Tuesday. The cold and wind pose a major threat to animal welfare and farmers with small livestock are also encouraged to take precautions. View this post on Instagram A post shared by South African Weather Service (@southafricanweatherservice)

American Vanguard Reports First Quarter 2025 Results
American Vanguard Reports First Quarter 2025 Results

Associated Press

time6 hours ago

  • Associated Press

American Vanguard Reports First Quarter 2025 Results

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Jun 6, 2025-- American Vanguard ® Corporation (NYSE: AVD), a diversified specialty and agricultural products company that develops, manufactures, and markets solutions for crop protection and nutrition, turf and ornamental management and commercial pest control, today reported financial results for the first quarter ended March 31, 2025. Financial and Operational Highlights – First Quarter 2025 versus First Quarter 2024: Other Operational Highlights: CEO Douglas A. Kaye III stated, 'The first quarter of 2025 presented a challenging environment for suppliers to the global agricultural sector, continuing trends that we have experienced over the past 18-24 months. Against a backdrop of global economic uncertainty and generally high interest rates, customers focused on managing working capital by reducing inventory and limiting procurement to a just-in-time basis. In the face of these conditions, our results for the quarter declined, as compared to last year. While I am pleased with the progress we have made, if market conditions do not improve, we will enact further cost reduction initiatives over the coming quarters. We have made meaningful improvement to our cost structure, but much of that progress is currently being overshadowed in our financial results so far this year by the continued weakness in the agricultural environment.' Mr. Kaye continued, 'The environment is beginning to improve in the second quarter, and, like most industry participants in the agricultural chemical industry, we expect the second half of 2025 to be both seasonally stronger and to benefit from improving customer order rates. We expect to realize the benefit of commercial and operational improvements that are either completed or are well underway. As we continue to transform and simplify this business, future margins will improve, and further margin enhancement in 2026 and beyond is the target.' David T. Johnson, Vice President, CFO and Treasurer, stated 'While the industry recovers from its cyclical downturn, the team has made meaningful improvement to the cost structure. We are pleased with the results from our initial efforts to contain costs and will continue to keep a tight rein on non-essential costs for the foreseeable future. In addition to minimizing operating expenses, we have made significant improvements to our balance sheet. We ended the quarter with total debt of $167 million, which was down from $187 million the prior year. Net working capital decreased to $153 million versus $238 million a year ago. We will continue to focus on strengthening our balance sheet and positioning American Vanguard for a return to growth.' Mr. Kaye concluded, 'I believe that simplifying many of the things we do will allow us to better understand what is important and to deliver against high priority tasks. My message across the organization in this regard is straightforward – SIMPLIFY, PRIORITIZE and DELIVER. If we embrace this mantra, I believe that we can reaffirm American Vanguard's position as a trusted provider of proven agricultural and environmental solutions.' The Company, from time to time, may discuss forward-looking information. Except for the historical information contained in this release the matters set forth in this press release include forward-looking statements. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often use words such as 'believe,' 'expect,' 'anticipate,' 'intend,' 'estimate,' 'project,' 'outlook,' 'forecast,' 'target,' 'trend,' 'plan,' 'goal,' or other words of comparable meaning or future-tense or conditional verbs such as 'may,' 'will,' 'should,' 'would,' or 'could.' These forward-looking statements are based on the current expectations and estimates by the Company's management and are subject to various risks and uncertainties that may cause results to differ from management's current expectations. Such factors include risks detailed from time-to-time in the Company's SEC reports and filings. All forward-looking statements, if any, in this release represent the Company's judgment as of the date of this release. The company disclaims any intent or obligation to update these forward-looking statements. View source version on CONTACT: Company Contact American Vanguard Corporation Anthony Young, Director of Investor Relations [email protected] (949) 221-6119 Investor Representative Alpha IR Group Robert Winters [email protected] (929) 266-6315 KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA NEW YORK INDUSTRY KEYWORD: OTHER NATURAL RESOURCES CHEMICALS/PLASTICS FOREST PRODUCTS MANUFACTURING AGRICULTURE NATURAL RESOURCES OTHER MANUFACTURING SOURCE: American Vanguard Corporation Copyright Business Wire 2025. PUB: 06/06/2025 06:15 AM/DISC: 06/06/2025 06:13 AM

Mission Produce Inc (AVO) Q2 2025 Earnings Call Highlights: Record Revenue Amidst Margin Pressures
Mission Produce Inc (AVO) Q2 2025 Earnings Call Highlights: Record Revenue Amidst Margin Pressures

Yahoo

time9 hours ago

  • Yahoo

Mission Produce Inc (AVO) Q2 2025 Earnings Call Highlights: Record Revenue Amidst Margin Pressures

Revenue: $380.3 million, an increase of 28% year-over-year. Gross Profit: $28.4 million, down from $31 million in the prior year period. Gross Profit Margin: Decreased 290 basis points to 7.5% of revenue. Adjusted Net Income: $8.7 million or $0.12 per diluted share, compared to $9.8 million or $0.14 per diluted share last year. Adjusted EBITDA: $19.1 million, compared to $20.2 million last year. Marketing & Distribution Segment Sales: $362.5 million, a 26% increase. International Farming Segment Sales: Increased $6.7 million to $8.1 million. Blueberries Segment Sales: Increased 57% to $15.7 million. Cash and Cash Equivalents: $36.7 million as of April 30, 2025. Capital Expenditures: $28 million for the fiscal year-to-date period. Share Repurchases: $5.2 million executed during the second quarter. Warning! GuruFocus has detected 5 Warning Signs with AVO. Release Date: June 05, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Mission Produce Inc (NASDAQ:AVO) reported record second quarter revenue of $380.3 million, a 28% increase compared to the previous year. The company successfully leveraged its global sourcing network, maintaining strong customer relationships and service levels. Mission Produce Inc (NASDAQ:AVO) expanded its market presence in the UK, leading to higher volumes and significant gains in facility utilization. The Mango business achieved record volumes and significant market share gains, establishing Mission as a leading US distributor. The International Farming segment showed significant EBITDA improvement, turning a historically challenging period into a positive contributor. Gross profit decreased to $28.4 million from $31 million in the prior year, primarily due to lower avocado per unit margins. The company incurred $2.6 million in unique costs, including $1.5 million from the closure of Canadian distribution facilities. Adjusted net income decreased to $8.7 million from $9.8 million in the previous year. SG&A expenses increased by 15%, driven by higher employee-related costs and professional fees. The Marketing & Distribution segment's adjusted EBITDA decreased to $16.8 million from $21.7 million due to lower per unit gross margins. Q: Can you elaborate on the outlook for the International Farming segment, particularly regarding fruit quality and sizing from the Peruvian operations? A: Stephen Barnard, CEO: Fruit quality is expected to be good, with sizing generally favorable. Some blocks may have larger sizes, but they won't significantly impact the business. The production is exceeding expectations, and we are distributing it globally to avoid concentration in any one market. John Pawlowski, President and COO, added that the quality continues to improve as trees mature, and the Peruvian fruit is becoming more normalized in the US market. Q: How did the co-packer volume in the second quarter compare to the first quarter, and are you at normalized levels now? A: John Pawlowski, President and COO: We addressed the challenge by leveraging other source markets like Peru and California, which helped us reach more normalized levels. We are now in a good position with our capacity in Mexico and other sources. Stephen Barnard, CEO, mentioned planning ahead to mitigate potential future constraints. Q: How did the tariff uncertainty impact supplier and customer behavior, and were there any notable changes? A: John Pawlowski, President and COO: Initially, there was some hesitation and holding back of fruit, but by April, suppliers became more comfortable with the situation. The tariffs did not cause significant disruptions, and relationships allowed us to secure product as needed. Bryan Giles, CFO, noted that the impact of tariffs was significant during peak pricing but has since stabilized. Q: What is the current market share of your mango business, and how much can it grow within your current infrastructure? A: Stephen Barnard, CEO: We are the second-largest mango distributor in the US, with market share growing from below 5% to close to 10%. The mango business complements our avocado operations, utilizing existing facilities and customer relationships. John Pawlowski, President and COO, added that there is room for growth as trees mature and productivity increases, with plans to expand grower relationships globally. Q: How did the second quarter's financial performance evolve, particularly regarding co-packer volumes and margins? A: Bryan Giles, CFO: Conditions improved by mid-March with increased volumes from California, reducing reliance on Mexican suppliers. This allowed better balancing of size curves and improved margins, which peaked at the end of April. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store