California Business Minute™

Hi, I am Tim Johnson and welcome to the California Business Minute.

This year’s Freestone peach crop forecast is 430 thousand tons, unchanged from an
earlier forecast in June forecast, but 4 percent below the 2007 crop. This year’s bearing
acres are estimated at 36,000. The crop is reported to be of excellent quality, with good
sizes. Harvest continued during July with the July Flame, Sierra Rich, Ice Princess, Rich
Lady, and Galaxy varieties.

This year’s Clingstone peach crop forecast is 380 thousand tons, unchanged from the June
forecast, but 24 percent lower than the 2007 crop. Bearing acres are estimated at 25,300.

Unusually cold temperatures in April have resulted in significant frost damage to the crop.
The largest impact of the frost damage is in the northern growing areas, with some growers
reporting 100 percent damage. There are a large number of growers with losses in the Modesto
area. However, fruit in the southern growing areas was not affected. Quality was reported to be
very good for these initial deliveries.

I am Tim Johnson and this has been the California Business Minute.