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Concentrations and Geographic Information | 9 Months Ended
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Jul. 31, 2021
Risks and Uncertainties [Abstract] |
Concentrations and Geographic Information | Concentrations and Geographic Information Lemons procured from third-party growers were 57% and 64% of the Company's lemon supply in the three months ended July 31, 2021 and 2020, respectively, and were 51% and 60% of the Company's lemon supply in the nine months ended July 31, 2021 and 2020, respectively, of which one third-party grower was 10% of the lemon supply for the nine months ended July 31, 2021. The Company sells the majority of its avocado production to Calavo and sells a majority of its oranges and specialty citrus to a third-party packinghouse. Concentrations of credit risk with respect to revenues and account receivables are limited due to a large, diverse customer base. Two individual customers represented 17% and 13% of revenues, respectively, for the nine months ended July 31, 2021. No individual customer represented more than 10% of accounts receivable, net as of July 31, 2021. During the three months ended July 31, 2021 and 2020, the Company had approximately $578,000 and $643,000, respectively, of total sales in Chile by Fruticola Pan de Azucar S.A. ("PDA") and Agricola San Pablo SpA ("San Pablo"). During the nine months ended July 31, 2021 and 2020, the Company had approximately $2,555,000 and $2,103,000, respectively, of total sales in Chile by PDA and San Pablo. In June 2021, the Company entered into an agreement, effective March 1, 2021, to sell and license certain assets of Trapani Fresh to its 49% partner in the joint venture, FGF Trapani ("FGF"). These assets consist of packing supplies and certain intangible assets related to the packing, marketing, and selling business of Trapani Fresh. The total consideration to be received is approximately $3,900,000 over an 8-year term in 16 equal installments. Payments to be received are secured by FGF’s interest in land parcels at the Santa Clara ranch and consist of a $1,200,000 note receivable and $2,700,000 of royalty payments. There was no material gain or loss recognized on the transaction. Trapani Fresh continues to own and operate the 1,200-acre Santa Clara ranch and now sells the lemons it grows to FGF, who packs, markets, and sells the fruit to its export customers. As a result of this transaction, Trapani Fresh now recognizes lemon revenues at the market price less packinghouse charges to harvest, pack and market the fruit. During the three months ended July 31, 2021 and 2020, the Company had approximately $710,000 and $9,626,000, respectively, of total sales in Argentina by Trapani Fresh. During the nine months ended July 31, 2021 and 2020, the Company had approximately $3,265,000 and $12,105,000, respectively, of total sales in Argentina by Trapani Fresh. Aggregate foreign exchange transaction losses realized for our foreign subsidiaries was approximately $598,000 for the nine months ended July 31, 2021 and are included in selling, general and administrative expenses in the consolidated statements of operations. Foreign exchange transaction gains/losses were immaterial for the nine months ended July 31, 2020.

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI http://asc.fasb.org/topic&trid=2134479 + Details
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