News and events

KEEPING UP WITH KIWIFRUIT

• Zespri is forecasting increased returns across all categories on the back of an excellent market response to this season's trade.  CEO Lain Jager said overall the year was good with mainly dry summer conditions, providing a great tasting crop that has translated into strong market demand.  Early projections indicate fruit and service payments across all pools of $856.2m - a $22.3m increase on last season.  The last Gold kiwifruit were shipped to Japan in early August and the final Green and Green Organic kiwifruit will be shipped to Europe and Asia by the end of November.
   
• Over 97% of shareholders voted in favour of its continued investment in new kiwifruit varieties at Zespri’s recent AGM, including research and development of new red varieties.  This move is part of Zespri's advancement in increasing productivity.  "It is quite extraordinary to think that we can realistically plan to become a $3 billion plus industry, but still be using less land resources than we did in the 1980s," said Zespri chairman John Loughlin.
   
• Zespri is to keep its status as New Zealand's largest kiwifruit exporter after a High Court ruling in its favour following a challenge from Turners & Growers to its single desk model.  The judgment was twofold, finding the kiwifruit industry's structure is legal and that the industry regulator, Kiwifruit New Zealand, in the first instance has exclusive jurisdiction to determine complaints made about Zespri compliance with the industry's regulatory regime.  Zespri currently represents around 90% of all kiwifruit exports.
   
• New research has confirmed that Zespri Green kiwifruit can break down proteins for better absorption within the digestive process.  The study measured the digestion of nine different types of food proteins and found kiwifruit enhanced the digestion more completely and rapidly than digestive enzymes alone.  Zespri is three years into its 10 year health science roadmap, with research being undertaken in a number of areas to validate the health benefits of kiwifruit.
   
• Seeka Kiwifruit Industries has announced it is in good shape to deliver very competitive returns to growers.  The largest post-harvest operator managing around 25m trays a year, the company has invested in innovative fruit handling automation and new information systems to see a 35% increase in operating profit for the year to 31 March 2010.  The $7.5m profit was reduced to a net profit of $1.4m when non-recurring items, including the $3.9m cost associated with the purchase of Te Awanui Huka Pak, were taken into consideration.  Seeka is one of the Bay’s largest employers, with around 250 full time staff and over 3000 casual workers employed through the season.

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