Shares in Costa Group Holdings (ASX:CGC) took a steep fall, plunging by a startling 18.1% to A$2.720, marking the lowest point since June 30.

The stock was last identified down by 13%, setting the stage for the worst drop since October 17, 2022, if the losses persist.

Costa Group has noticed a decline in quality across its citrus category later in the season, indicating a probable A$30 million setback.

The company cited issues with the citrus category and diminishing consumer demand for tomatoes as factors likely to affect the financial year results.

Costa Group has postponed its half-year results to August 31, with a predicted increase in half-year EBITDA-S year over year.

Despite being the top loser on the benchmark index, Costa Group’s stock has risen about 21% this year, as of last close.

Costa Group Holdings (ASX:CGC) is a leading grower, packer, and marketer of fresh fruit and vegetables.