NEW ZEALAND - Zespri is forecasting the industry’s largest-ever crop due to improved yields this season. With an estimated 197 million packed trays, the company is on track to reach its goal of $4.5 billion in global sales revenue.
“It’s really pleasing that today’s forecast indicates we’re on track to deliver strong value to growers and to meet our target of $4.5 billion in global sales revenue by 2025,” Chief Executive Officer Dan Mathieson says. “After a tough growing season last year, it’s great to see per hectare returns rebound on the back of much better on-orchard yields which is positive news for our growers.”
Forecast per hectare OGRs have increased from last season, with the mid-point of current ranges above last season’s final per hectare returns for all pools, a press release stated. Green and organic green forecast per hectare returns is expected to be at record levels.
“Feedback from customers on this season’s fruit quality has been positive and has supported the strong start we’ve made in key markets, including achieving record sales weeks in our core markets,” Mathieson continues. “Maintaining our focus on quality in a season where we have significantly more fruit to deliver will remain critical to maximizing value for growers.”
While forecast per-hectare returns have strengthened, per-tray returns have dipped from last season’s record highs. However, the bottom end of the latest forecast per tray range has lifted from Zespri’s March indicative forecast for all categories other than SunGold and Green14 Kiwifruit.
“It’s an encouraging forecast, however, there are still some challenges in this season’s smaller fruit profile and unfavorable foreign exchange movements from the Japanese Yen,” Mathieson adds. “Our teams in New Zealand and in market are working hard to manage these, as we look to deliver value through careful monitoring of our fruit inventory levels, strong marketing campaigns, and pricing that supports strong run rates throughout the season.”
As these volumes hit grocery stores, keep Zespri kiwifruit front and center.
