Sunrice released their financial update.

Seems like a good update. Despite challenges, debt got reduced.

My reasons were selling was not the business itself, but the shareholder structure in which farmers had to maintain a holding was hard to understand. I thought having farmers as shareholders meant there could be lots of inside information not privy to the general investor. An example would be a bad growing season due to poor weather which possibly could make a farmer sell some shares. That's just my thoughts so I could be wrong.

There is also the vesting arrangements that will come into effect in a few of years where Ricegrowers will lose the right to export rice in the Northern rivers although I think the impact will be small given the business has now diversified into other areas and revenue from other businesses has grown.

Finally I don't usually buy the Sunrice brand but usually what is cheaper in the shop..

I suppose if you can get past the shareholder structure, the cyclical nature of growing rice amid climate change and want a large dividend then maybe can't go wrong here.

As usual I sold too soon after getting a bit impatient by the price stagnating. Oh well, at least I did not sell at the lows last year (6.25).

Full link if anyone is interested.