Limoneira Capitalizes on Water Fallowing Conservation Program with Yuma Mesa Irrigation and Drainage District and the United States Bureau of Reclamation
Limoneira Company (the “Company” or “Limoneira”) (Nasdaq: LMNR), a diversified citrus growing, packing, selling and marketing company with related agribusiness activities and real estate development operations, today announced that it has entered into an initial fallowing program with Yuma Mesa Irrigation and Drainage District (“YMIDD”) and the United States Bureau of Reclamation (“BOR”) and will commit to fallow owned land through, at least, calendar 2025.
- Limoneira Company (the “Company” or “Limoneira”) (Nasdaq: LMNR), a diversified citrus growing, packing, selling and marketing company with related agribusiness activities and real estate development operations, today announced that it has entered into an initial fallowing program with Yuma Mesa Irrigation and Drainage District (“YMIDD”) and the United States Bureau of Reclamation (“BOR”) and will commit to fallow owned land through, at least, calendar 2025.
- The Company expects to receive approximately $1.32 million annually, paid in quarterly installments, for fallowing 581 acres out of its 1,300 acres of farmland in Yuma, Arizona.
- We are finding great monetization opportunities for our water assets by either fallowing acreage, leasing pumping rights or selling the water rights for significant appreciation over our investments.
- We believe this water monetization in Yuma, Arizona is just the beginning of additional future opportunities for our abundant water assets.”