Australia's Select Harvests slumps on potential hit from parasitic mite

Select Harvests

29/06/2022 05:42

** Shares of edible nuts grower Select Harvests  SHV.AX 
slides up to 15% to A$4.48, set for their sharpest drop since
Aug. 2017
    ** SHV says parasitic mite Varroa, which feeds on European
honeybees, was detected in a sentinel hive at the Port of
Newcastle 
    ** Co's almond orchards are 100% dependent on European bee
pollination to produce the crop
    **  Pollination services disrupted 44% of SHV's orchards as
authorities have placed all beehives in NSW on a standstill,
says co  urn:newsml:reuters.com:*:nASX4pf3F0
    ** "In the event the incursion does not get contained, it
will impact Select's 2023 crop pollination" - SHV
    ** SHV is undertaking certain mitigation strategies to
support 2023 crop pollination
    ** Shares hit their lowest value since Feb. 2018
    ** More than 1 mln shares change hands, compared with the
30-day average volume of about 328,000 shares 
    ** Stock has fallen about 15% this year, as of last close

 (Reporting by Anan Ashraf in Bengaluru)
 ((Anan.Ashraf@thomsonreuters.com;))