Australia's Select Harvests rises on bullish 2024 farm outlook

Select Harvests

12/09/2023 02:12

** Shares of Select Harvests Ltd  SHV.AX  rise as much as
8.2% to A$4.3, their highest since Aug 24
    ** Co flags positive 2024 farming outlook and adds that a
good 2024 crop will quickly generate cash
    ** Says forecast shift to El Nino weather pattern is
positive for almond growth
    ** Says almond price to remain muted until evidence on
Californian crop size and quality; sees long-term prices to
increase 
    ** For almond, forecast net sales price based on market and
crop profile for the 2023 crop is A$6.30 - A$6.50/kg
    ** SHV stock up 3.3% this year, as of last close 

    
    ($1 = 0.7997 pounds)

 (Reporting by Aishwarya Nair in Bengaluru)