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US nut processor loss

This article was originally published in Foodnews

ML MACADAMIA Orchards of Hawaii has announced a loss for 2007 of US$4.0 million, on sales of US$11.3 million. The company said the loss was mainly due to lower nut prices, inventory write-downs and higher legal and administrative costs of its attempted takeover of Mac Farms (FOODNEWS 21 December 2007) .It was also unable to find customers or processors for its entire 2007 crop. The company has suspended its quarterly cash dividend.

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