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ML Macadamia posts loss.(ML Macadamia Orchards)(Brief Article)(Statistical Data Included)
Lower macadamia nut prices, a flood, a drought and a dispute with its exclusive purchaser pushed ML Macadamia Orchards LP into the red for the year 2000.
The company announced last week it recorded a net loss of $398,000 for the year, compared to net income of $4.6 million in 1999. Revenues fell to $13.8 million from $15.9 million.
The company says macadamia nut prices fell for the year and a drought in Ka'u on the Big Island hampered revenues. A November flash flood in the same region destroyed more than 2 million pounds of nuts. Overall nut production for the year totaled …
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