Latest news with #TeBrake
Yahoo
5 days ago
- Business
- Yahoo
Zespri forecasts 'strong' kiwifruit season but adjusts price ranges
New Zealand kiwifruit grower Zespri is forecasting another record crop year but has selectively narrowed the price guidance for the 2025/26 season. Although the so-called orchard gate return (OGR) "indicative" forecast from the group signals a 'positive start' to the season, the firm has adjusted its price per tray ranges from the preliminary outlook released in March. For the Zespri Green kiwifruit variety, the range is now NZ$8.25 ($5.01) to NZ$9.25, compared to the March outlook of NZ$8-9.50. The Zespri SunGold Kiwifruit is expected to be between NZ$11-12 per tray versus NZ$11-12.50. For Zespri Organic Green, the range is projected at NZ$11-12.5, compared to NZ$10.50-12.50. According to CEO Jason Te Brake, the anticipated average returns per hectare for Green, Sweet Green, Organic Green, and Organic SunGold Kiwifruit are set to exceed the figures recorded in the prior year. The grown was attributed to 'increased yields', along with 'improvements' in fruit size and additional volume from new orchards. Te Brake said: 'We have another bumper crop of more than 200 million trays from New Zealand this season and our sales programmes have started well, particularly in Europe and North America where we have seen strong demand.' Despite the 'encouraging' forecast, the CEO, who took the role last May, warned of 'some economic headwinds in Asia, including inflationary pressures in Japan'. He added that the Zespri 'teams are working hard to secure good value in generally softer market conditions'. In the 2024/25 season, Zespri sold a record 220.9 million trays, up from 164.2 million trays in 2023/24. Zespri forecast in March, a total crop exceeding 205 million trays for 2025/26, equivalent to 738,000t. This season, Zespri said it has already shipped over 110 million trays of kiwifruit, which constitutes more than half of the total crop. The company's corporate net profit after tax, including licence revenue, is projected to be in the range of NZ$248m-NZ$258m, an increase from NZ$155.2m last year. In 2024, Zespri's 'global operating revenue' was NZ$5.14bn. Te Brake said that in addition to the priority of ensuring a successful season, the industry is also making progress on 'key strategic issues' such as boosting grower ownership in Zespri, with more than 60% of growers now holding shares, an increase from 48%. The development follows a 2024 grower vote, where 91% backed offshore expansion. The CEO went on to say that currently the company is 'developing our 2035 strategy to set our sights on the next ten years and how we ensure we are best positioned to deliver the greatest value to New Zealand growers'. "Zespri forecasts 'strong' kiwifruit season but adjusts price ranges " was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Scoop
6 days ago
- Business
- Scoop
Zespri Forecasts Strong 2025/26 Season Returns For Growers
Zespri's indicative forecast for the 2025/26 season has the kiwifruit marketer on track to deliver strong value to growers in another record crop year. The indicative June 2025/26 OGR forecast reflects a positive start to the season, with ranges narrowed from the initial guidance provided in March 2025. CEO Jason Te Brake says average per hectare returns for Green, Sweet Green, Organic Green and Organic SunGold Kiwifruit are now forecast to exceed last year's record returns. 'This reflects this season's increased yields, improvements in our Green and RubyRed fruit size, and additional SunGold Kiwifruit and RubyRed Kiwifruit volume from newly producing orchards. 'We have another bumper crop of more than 200 million trays from New Zealand this season and our sales programmes have started well, particularly in Europe and North America where we've seen strong demand. 'This forecast is encouraging, though there are some economic headwinds in Asia, including inflationary pressures in Japan and our teams are working hard to secure good value in generally softer market conditions. 'We've now shipped more than 110 million trays of Zespri Kiwifruit which is over half this season's total crop, with RubyRed sales now complete, and our teams in New Zealand and in market are focused on continuing the positive momentum we've started the season with to deliver strong value back to our growers.' Zespri corporate net profit after tax including licence revenue is forecast to be $248-$258 million, up from $155.2 million last year. Mr Te Brake noted that while the focus remains on delivering the season well the industry was also making progress on key strategic issues. This included increasing grower ownership of Zespri, with the provisional uptake of the recent share alignment initiatives meaning more than 60% of growers will own Zespri shares, up from 48%. This also follows the successful grower vote in 2024 with 91% of growers supporting offshore expansion, supporting Zespri's ability to continue to lead the category. 'Our industry is creating significant value for growers and grower shareholders and the communities they support, and the outlook is positive with strong demand. We are currently developing our 2035 strategy to set our sights on the next ten years and how we ensure we are best positioned to deliver the greatest value to New Zealand growers. 'Aligning the commercial interests of growers – i.e. ensuring all growers and shareholders clearly see the benefit to them in new opportunities – will be critical to this. With strong demand and the industry continuing to perform well we are making the right steps set ourselves up for the future and we're committed to continuing to do so.' 2025/26 Indicative June OGR Forecast per tray and per hectare returns Pools (Fruit Categories) 2025/26 Indicative Per Tray Range – June Forecast 2025/26 Indicative Per Tray Range – 20 March Guidance 2025/26 Indicative Per Hectare Range – June Forecast 2025/26 Indicative Per Hectare Range – 20 March Guidance Zespri Green $8.25 - $9.25 $8.00 - $9.50 $95,000-$107,000 $86,000-$103,000 Zespri Organic Green $11.00 - $12.50 $10.50 - $12.50 $85,000-$97,000 $80,000-$95,000 Zespri SunGold Kiwifruit $11.00 - $12.00 $11.00 - $12.50 $171,000-$187,000 $162,000-$184,000 Zespri Organic SunGold Kiwifruit $13.50 - $15.00 $13.50 -$15.50 $154,000-$172,000 $147,000-$169,000 Zespri Green14 $9.00 - $10.75 $9.00-$11.00 $63,000-$75,000 $55,000-$69,000 Zespri RubyRed Kiwifruit* $15.25 - $16.25 $14.50-$16.50 $74,000-$79,000 $77,000-$88,000
