Blueberries Could Be NZ's Next $150m Horticultural Export
Blueberries have the potential to become a major horticultural export, earning up to $150 million within the next three to five years.
The kiwifruit marketer says this is up from NZ$5 billion and 220.9 million trays in the previous year.
This has supported direct returns to the New Zealand industry reaching a record $3.56 billion for the 2025 season, with Total Fruit and Service Payments spread across New Zealand’s growing regions, including the Bay of Plenty, Northland, the East Coast, Nelson and the Waikato. This is up from $3.04 billion in 2024.
Per hectare returns reached record levels across all categories last season, with average final per tray returns exceeding Zespri’s February forecast following a positive finish to sales programmes.
Zespri’s net profit after tax was $280.1 million, up from $155.2 million in 2024/25 reflecting larger fruit volumes and increased revenue from licence release.
Excluding licence revenue, Zespri recorded its highest ever profit of $123.8 million, up from $79.8 million in 2024/25 driven by increased supply, market performance and a focus on operating efficiencies.
The expected total net dividend is $1.39 per share.
Global Demand Supports Strong Returns
Jason Te Brake, chief executive of Zespri, says the results signal the industry's momentum.
“These results are something the industry can be proud of, particularly given we delivered a record crop in a much more challenging and complex environment," Te Brake says.
He says that record per hectare returns and improved per tray returns reflect improved yields and the company's ability to secure strong value for its growers, shareholders and communities through the strength of its brand and supply chain.
He adds that pressure experienced in some markets was offset by a strong performance in key regions like Europe and the United States.
Northern Hemisphere Strengthens Supply
Zespri's Non-New Zealand Supply achieved sales of $875.9 million from 32.3 million trays, compared with $652.4 million and 26.5 million trays in the 2024/25 financial year.
"Our ZGS supply remains a critical part of our strategy, with increased volumes from our Northern Hemisphere supply helping build our brand, hold shelf space in an increasingly competitive market and maintain commercial partnerships that support strong returns to our growers," Te Brake says.
He says the 2025 season also marked an important step forward with the industry looking ahead to the next decade.
“We’ve launched our 2035 strategy which is focused on building on our momentum - ensuring we continue to invest in quality, capability and market development so we can consistently deliver strong returns for growers and sustained value for shareholders over the long term.
“By focusing on our three drivers - building brand-led demand, transforming global supply and creating the product portfolio of the future, we’ll be in a strong position to realise our ambition of becoming the world’s healthiest fruit brand by 2035 and deliver strong value to the industry."
PVR Protections Welcomed
Te Brake says the Government's announcement last week of proposed stronger PVR protections will also support the industry's momentum.
He says the proposals include extending the PVR ownership period and reinstating provisional protection for new varieties, helping to protect the premium Zespri's licensed varieties demand in market and therefore securing stronger value for longer.
"This will enable our continued investment in creating the product portfolio of the future which is a key driver of our 2035 strategy."
Positive Start to 2026/27 Season
Te Brake says that looking ahead to the 2026/27 season, the industry is making good progress in completing the season's harvest with sales off to a strong start in key markets.
"While the global environment remains complex, demand is positive and we’re seeing strong sales in Europe and North America, with Japan also performing well, and we’re looking forward to sharing our fruit with even more consumers in the year ahead.”
