Westpac NZ Becomes First Bank to Accept Zespri Shares as Lending Security
Westpac NZ has become the first New Zealand bank to receive approval from the Reserve Bank of New Zealand (RBNZ) to secure and leverage kiwifruit growers' Zespri shares.
In its August forecast it expects those payments, excluding the loyalty premium, to reach $1.07b for the 2015-16 season.
The current forecast is an increase of $155.8m vs the $915.8m achieved in 2014-15 season. The forecast will be updated this month, then again later in the year.
The August 2015 forecast for Green of $4.87 per tray sits at the lower end of the range previously published (July range $4.80 - $5.20) and compares to $6.01 in the 2014-15 season. But orchard productivity has substantially increased, so the August 2015 forecast per hectare return is $53,841, which is close to the same record return achieved in 2014-15.
August is the first forecast when Zespri puts out tray figures to the industry rather than a range.
The August forecast for Gold orchard gate return is $7.76 per tray, which is at the mid-point of the July range of $7.60 - $7.90 vs $9.80 last year. The per hectare return is forecast at $67,378 vs $73,890 last year.
Green Organic is forecast at $6.75 per tray (July range $6.70 - $7.00) vs $7.37 last year. The per hectare return is forecast at $49,565 vs $43,996 last year. Green14 is at $6.69 per tray (July range $6.50 - $7.10) vs $7.08 last year. The forecast per hectare return is $41,040 vs $29,682 last year.
