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Zespri’s Global Revenue Exceeds NZ$4 Billion for First Time

May 30, 2022

On May 25, Zespri reported a global fruit sales revenue for the 2021/22 season of NZ$4.03 billion (US$2.64 billion), corresponding to a year-on-year increase of 12%. Despite the immense challenges faced by the industry this year, the company’s total revenue rose by 15% to NZ$4.47 billion (US$2.93 billion). Meanwhile, sales of kiwifruit from sources outside of New Zealand increased to NZ$536.9 million (US$351.7 million), and Zespri’s net profit after tax reached a record NZ$361.5 million (US$236.8 million).

In the 2021/22 season, Zespri sold a total of 201.5 million trays of kiwifruit worldwide, up 11% from last year. New Zealand’s kiwifruit industry has continued to thrive despite considerable uncertainty in the industry generated by the COVID-19 pandemic and increasing supply chain costs. Direct returns to the New Zealand industry, including loyalty premiums, reached a record NZ$2.47 billion (US$1.62 billion).

In spite of a difficult 2021/22 season, grower returns remained strong, with per-hectare returns representing the company’s second best on record across all varieties:

  • The average return for Zespri Green per tray was NZ$6.35 (US$4.16), with the average return per hectare reaching NZ$75,494 (US$49,463).
  • Zespri Organic Green reached an average return per tray of NZ$9.74 (US$6.38), with the average return per hectare increasing to NZ$67,752 (US$44,390).
  • The average return for Zespri SunGold per tray was NZ$11.51 (US$7.54), and the average return per hectare was NZ$176,026 (US$115,317).
  • Zespri Organic SunGold saw an average return per tray of NZ$12.61 (US$8.26), with an average return per hectare of NZ$143,772 (US$94,200).
  • Zespri Sweet Green achieved an average return per tray of NZ$7.82 (US$5.12) and an average return per hectare of NZ$54,609 (US$35,780).

Zespri CEO Dan Mathieson said that the challenges faced by Zespri during the 2021/22 season included ongoing supply chain disruptions caused by the pandemic, shifting weather patterns, tightening regulations, changes in fruit trade flows, increased competition, labor shortages, late-season fruit quality issues, significant cost increases and other international trade issues. Despite these enormous challenges, however, Mathieson was encouraged by the results.

According to reports, kiwifruit production for the 2022/23 season will be lower than originally forecast. This year’s harvests of SunGold and RubyRed varieties are already complete, and the packing of Zespri Green is now underway.

Image: Pixabay

This article was translated from Chinese. Read the original article.

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