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California Olive Growers Files for Bankruptcy Protection, December 21, 2004
California Olive Growers (COG) filed for bankruptcy protection on December 16. By seeking protection under Chapter 11, it can remain in possession of its assets and continue to operate any business, subject to the oversight of the court and the creditors committee.The cooperative was incorporated on April 18, 2000. COG purchased the Oberti olive plant in Madera from the bankruptcy estate of Tri Valley Growers in May, 2001, assuming a $9.5 million contingent liability over a 25-year period for the mediation of groundwater contamination caused by Tri Valley Growers.In addition to canned olives, California Olive Growers’ product line includes olive oil, pizza sauce and ground tomatoes. The cooperative also operates a copacking business, Chef’s Kitchen.
California Canned Peaches, December 21, 2004
In its latest issue of Peach Fuzz, the California Canning Peach Association reported that year-to-date export sales of canned peaches total 633,713 cases, down 13% from last year’s volume but still far ahead of the five-year average. Mexico accounts for 37% of sales this year, followed by Canada with a 28% share of exports. Year-to-date canned peach imports total 490,809 cases, down 25% from last year. Thailand continues to be the largest supplier, followed by China, Greece and Chile.
Rural Cooperatives Center, Department of Agricultural and Resource Economics
One Shields Avenue, University of California, Davis, California 95616 USA
Tel: (530) 752-2408 Fax. (530) 752-5451 Email: ruralcoops@ucdavis.edu