Numerous studies have analyzed annual crop mix decisions in light of producer risk preferences. Few studies have focused on perennial crop mix decisions. This study attempts to identify not only the optimal mix of grapefruit and oranges for various risk-aversion levels, but also optimal planting densities within each species. Experimental plot data from a grapefruit and orange spacing trial over the 1970-82 period were used in MOTAD formulation to address optimal perennial crop mix and planting density decisions under different capital constraints. An examination of results suggests crop mix and planting density diversification within and across species of citrus as a means of reducing income variability.