apricots

New Zealand fruit science company HortResearch has confirmed plans to spend €1.92m (NZ$4m) to develop a new apricot variety targeted at late overseas markets.

The news follows last week's announcement that the New Zealand government is making €16.9m (NZ$35m) available this year to fund projects based on utilising natural resources, including HortResearch's varietal development programme.

The apricot project is aimed at producing a new variety of apricot that can fill a six-week window in March and Aprilon the European and Australian markets.

Speaking to the Southland Times, HortResearch's Declan Graham said representatives from UK retailer Marks & Spencer believed a new high quality, late-season apricot could be worth up to €48,000 (NZ$100,000) a week.

“It will possibly take us 10 years to be able to fill this gap, between completing the research, getting the trees planted and then maturing enough to fruit,” Mr Graham said.

According to figures published by HortResearch, New Zealand had around 487ha planted with apricot production in 2007, producing a crop of 9,740 tonnes.

Export sales for the fruit were worth some €4.3m (FOB, NZ$9m) last year. More than half of the country's apricot export sales were to Australia.