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.
According to Stats NZ, kiwifruit achieved its highest price ever in December 2019.
“Kiwifruit prices rose 32% in December to a weighted average price of $8.27/kg, an all-time high,” acting consumer prices manager James Griffin said.
This compares with $4.24 in December last year.
The price rises for kiwifruit contributed to a 2.1% increase in overall fruit and vegetable prices in December.
Seasonal fruit and vegetables were also up.
Potatoes, apples, and onions were the main contributors to the rise in fruit and vegetable prices between November and December.
The average prices/kg in December 2019 were:
• potatoes – up 18% to $2.13
• apples – up 16% to $3.80
• onions – up 8.9% to $2.38
Price rises for potatoes, apples, and onions are typical in December. These were partly offset by nectarine prices (down 24%) and lettuce prices (down 18%).
