Tuesday, 15 January 2019 10:55

Rush for a slice of the cherry pie

Written by  Pam Tipa
Andrew Watters. Andrew Watters.

MyFarm has bought a 96ha property in Central Otago for its first cherry development.

The rural land investment company’s chief executive Andrew Watters says at least 60 New Zealanders have invested $10.5 million in the development.

But he told Rural News they are still raising the last capital for the Central Cherry Orchard Limited partnership so an investment opportunity remains.

“We are planting the first of our cherry trees in 2019 and expect them to be in full production in 2027.  However we will get about one-third of a crop by 2023-24,” he says.

“It is a long time but the product, which is large (30mm) tasty cherries should be superb and in high demand.”

Development will begin on the bare land block in the Waikerikeri Valley, north of Alexandra, this autumn.

NZ export cherries are recognised for their exceptionally high quality and freshness. 

This season it’s estimated 1.9 million 2kg boxes of cherries will be picked and airfreighted fresh to China and elsewhere in Asia to arrive in time for Chinese new year on February 5.

Watters says the Central Otago development, launched in late November, is the first cherry investment offer by MyFarm.

“Investment prospects for the NZ horticultural sector are particularly strong right now. The world wants our high quality, healthy produce and cherries’ time has come with that. We are witnessing a significant increase in export demand that this venture is going to help meet,” says Watters.

More like this

Not a very cherry start!

What was expected to be a bumper cherry crop this year has been badly hit by untimely wet weather.

Cherry crop takes a beating

Central Otago cherry growers have been dealt another blow, with heavy rain earlier this month causing major damage to matured fruit.

Seasonal worker facility opened

A new state of the art accommodation facility for RSE or temporary overseas workers at a large Māori kiwifruit orchard in the Bay of Plenty has been opened by the Minister of Māori Development, Nanaia Mahuta.

National

Job losses worry meat sector

New Zealand's meat processing industry says, while it supports moves away from coal, it has some major concerns about cuts…

Manawatu's economy bouncing back

Although the national economy is still functioning below pre-pandemic levels and the road ahead remains uncertain, the Manawatu region appears…

Machinery & Products

Real handy in all situations

Listening to customers across all sectors of agriculture helps the Handypiece team design and engineer options to make its unit…

Film binding now available

The Kuhn VBP 3100 series variable chamber baler-wrapper combination can now be equipped with the patented Kuhn Twin-reel film binding…

» The RNG Weather Report

» Latest Print Issues Online

The Hound

Great idea

OPINION: Your old mate has long argued Landcorp’s farming business – Pamu – is a bigger dog than he is.

Unemployable?

OPINION: Your canine crusader shakes his head at the complete lack of practical and real-world knowledge in both government and…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter