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.
This compares to $42, 659 for the 2013 season.
The October forecast Green return per tray has increased to $5.71 from $5.34 forecast in August, supported by price increases in Europe.
The October forecast for Gold is $9.57 per tray, up from an August forecast of $9.36; Organic Green $6.81, up from $6.35; and Green14 $6.98, up from $6.93.
The total fruit and service payment, across all pools and excluding the loyalty premium, is forecast at $882.46 million, up from $856.2 million in the August 2014 forecast.
The Zespri net profit is forecast to be $22 million to $27 million including recognising $6.3m of Gold licence revenue from prior seasons not yet received.
