Zespri global sales top $5 billion for 2024–25 season amid strong demand
Zespri says global sales for the 2024-25 season topped $5 billion on the back of strong demand and market returns.
One of the country’s largest kiwifruit growers has reported a 44% increase in production this season.
Listed company Seeka has told the New Zealand Stock Exchange that it has packed 43 million trays of class 1 kiwifruit this harvest season, compared to 29.8m trays last year.
Seeka chief executive Michael Franks says the increase is a pleasing recovery after two very challenging years impacted by weather events.
“The additional volume was efficiently processed by our facilities and well within our capability,” he says.
“Availability of labour and automation improvements both contributed to a smooth and effective packing season. Shipping is proceeding well. The impact of the Zespri shipment infested by rodents is not expected to materially impact earnings.”
Franks points out that while the increased trays packed is a signal of a return to profitability, it is too early to accurately predict the financial outcome and to be able to provide reliable financial guidance.
Seeka expects to update the market later in the year.
Franks says the company remains focused on maximising operational earnings, debt reduction, and achieving financial leverage targets.
He thanked all growers, suppliers, contractors and staff for their efforts in concluding the 2024 New Zealand kiwifruit harvest.
Federated Farmers says the final report into banking competition is a significant step forward for rural New Zealand - and a vindication of the farming sector's concern.
Fonterra chair Peter McBride expects a strong mandate from farmers shareholders for the proposed sale of its consumer and related businesses to Lactalis for $3.8 billion.
Fonterra chief executive Miles Hurrell says the sale of the co-op’s consumer and associated businesses to Lactalis represents a great outcome for the co-op.
The world’s largest milk company Lactalis has won the bid for Fonterra’s global consumer and associated businesses.
Fonterra has increased its 2024/25 forecast Farmgate Milk Price from $10/kgMS to $10.15/kgMS.
It took a stint at university to remind Otago dairy farmer Megan Morrison that being stuck in a classroom was not for her.
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