Zespri growers back year-round supply

NZ kiwifruit exporter Zespri revealed at its agm last week that its growers are strongly behind its year-round supply programme which involves growing fruit outside New Zealand.

Chairman Craig Greenlees said Zespri now has more than 1,000ha of Gold kiwifruit grown under licence in Chile, Italy, Japan, South Korea and the US, in addition to Zespri branded green kiwifruit.

Greenlees said the overseas programme is now profitable and is looking to expand. Zespri is also considering contracting and licensing supplies from China.

Meanwhile, kiwifruit growers are earning an extra NZ$0.60 per-share dividend in recognition of a tough year by Zespri. The final dividend will be paid next month, in recognition of a difficult season for growers. In a one-off move, the company is paying out all its NZ$26.4 million net profit in dividends. A larger crop, higher freight rates, quality and storage problems all contributed to the tricky season. Total net global sales slipped below NZ$1 billion as the strong NZ dollar wiped NZ$60 million off the bottom line. The final 60 cent dividend brings the total dividend for the year to NZ$1.10 per share.