Tuesday, 24 October 2017 13:55

Kiwifruit’s bright outlook

Written by Peter Burke

font size decrease font size increase font size
Print
Email

Zespri chairman Peter McBride.

There's gold for New Zealand growers in Zespri’s SunGold kiwifruit.

Overseas demand is high for the new Psa-free variety and prices continue to rise.

As a result, Zespri chairman Peter McBride is forecasting a net profit after tax of $96 million to $101m for the year ended March 31, 2018. Profit last year was $73.7m.

This upsurge in demand and price is reflected in Zespri’s updated market forecast for October, which again shows prices for all classes of kiwifruit are up on the August forecast. SunGold is fetching $9.73/tray versus $9.28 in August, while Green14 is $5.39/tray vs $5.25 in August. Other classes of kiwifruit are also up in value.

Zespri publishes two-monthly ‘indicative’ price updates (these do not reflect prices payable to individual growers).

More like this

Fonterra unveils divestment plan

Fonterra unveils divestment plan

Fonterra is exploring full or partial divestment options for its global Consumer business, as well as its integrated businesses Fonterra Oceania and Fonterra Sri Lanka.

KiwiBrothersTM make their China debut

KiwiBrothersTM make their China debut

Zespri has unveiled the award-winning KiwiBrothersTM mascots in China for the first time to market its large kiwifruit crop.

Crackdown on Chinese use of Zespri IP

Authorities in China have clamped down on companies in that country which have been packaging and selling their own local fruit under the Zespri brand.

Positive start for kiwifruit

Zespri is forecasting better prices for NZ kiwifruit growers in the coming 2024/25 season.

Fonterra's in good shape

Fonterra released its interim results last month, showing a continuation of the strong earnings performance delivered by the co-op through the 2023 financial year. Here’s what Fonterra chair Peter McBride and chief executive Miles Hurrell said about the results…

Popular Reads

Machinery builder in liquidation

In what appears to be a casualty of the downturn in the agricultural sector, a well-known machinery brand is now…

Red meat exports slump, thanks to China

Weaker pricing and demand from China continue to impact New Zealand red meat export earnings.

Penno's 25-year leadership role over

Troubled milk processor Synlait’s co-founder John Penno has stepped down from the board.

Lamb returns forecast to remain low

The latest report from ANZ isn’t good news for sheep farmers: lamb returns are forecast to remain low.

Meat co-op seeks capital from farmer shareholders

Meat processor Alliance Group is asking farmer shareholders to inject more capital in order to remain a 100% co-operative.

Featured

Feds make case for rural bank lending probe

Bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking, says Federated Farmers vice president Richard McIntyre.

A rollercoaster ride for Waikato dairy farmers

The 2023-24 season has been a roller coaster ride for Waikato dairy farmers, according to Federated Farmers dairy section chair, Mathew Zonderop.

MPI job cuts 'won't disrupt organisational structure'

Ministry for Primary Industries (MPI) director general Ray Smith says job cuts announced this morning will not impact the way the Ministry is organised or merge business units.

Scales purchases Bostock assets

Scales Corporation is acquiring a number of orchard assets from Bostock Group.

Ferdon sale tops $24,000

Family and solidarity shone through at the 75 years of Ferdon sale in Otorohanga last month.

MPI cuts 391 jobs

The Ministry for Primary Industries (MPI) has informed staff it will cut 391 jobs following a consultation period.

National

Fonterra unveils divestment plan

Fonterra is exploring full or partial divestment options for its global Consumer business, as well as its integrated businesses Fonterra…

Lodestone Energy's second solar farm delivering energy

Solar generation company, Lodestone Energy is now delivering energy from its second solar farm, Rangitaiki in the Bay of Plenty.

Passion for farming delivers award

James and Debbie Stewart from Dairylands in Manawatu impressed judges and took out the 2024 Fonterra Responsible Dairying Award.

Teamwork helps couple win Share Farmer of the Year title

Manawatu farmers Will Hinton and Kali Rangiawha have scooped the 2024 New Zealand Share Farmers of the Year.

Fonterra appoints new CFO

Fonterra has appointed a new chief financial officer, seven months after its last CFO’s shock resignation.

Machinery & Products

Vapormatic joins JD's parts range

John Deere has expanded its repair and replacement part offerings, with the Vapormatic brand officially added to its range of…

GPS in control

In a move that will make harvesting operations easier, particularly in odd-shaped paddocks, Kuhn has announced that GPS section control…

Series 2 multi-feeder wagon more reliable, user-friendly

Hastings-based Hustler Equipment recently unveiled the Combi RX² Series 2 multi-feeder wagon (series 2).

Agco invests in Finnish engine plant

While Nokia is more likely recognised for mobile devices, a major investment of €70m (NZ$126m) by global farm machinery brand…

Quality lubricants keep tractors safe

Evan Paxton and his family at Riverview Farms, Dargaville, are one of New Zealand’s leading suppliers of kumara.

» Latest Print Issues Online

dairynewscover

ruralnewscover

winegrowercover

The Hound

Wrong, again!

OPINION: This old mutt well remembers the wailing, whining and gnashing of teeth by former West Coast MP and Labour…

Reality check

OPINION: Your canine crusader gets a little fed up with the some in media, union hacks, opposition politicians and hard-core…

» Connect with Rural News

RSS Facebook Twitter

» eNewsletter