Like the dairy industry’s Fonterra, the kiwifruit industry’s giant Zespri has had a golden year. It has reported record returns for 2020-21, with a net profit of $290.5m (up $90m from the previous year) after achieving total fruit sales revenue of $3.5bn (up 14%).
It further highlights the strength of NZ’s rural economy during a period when the Covid-19 pandemic underlined the fragility of global trade.
Zespri’s global sale volumes were up 10% on last season to 181.5m trays.
The company said increased sales, the ongoing expansion of Zespri SunGold kiwifruit production and great quality fruit lay behind the strong returns.
CEO Dan Mathieson said the results would see earnings spread through many regional communities in NZ.
“We’re delighted a record $2.25bn will be returned to the NZ kiwifruit industry. The unity of our industry allowed us to respond effectively to incredibly difficult conditions around the world”. Continue reading “Zespri lifts profit to $290.5m after selling $3.5bn of kiwifruit but is running into headwinds”