Zespri has released its final forecast for the 2024/25 season with strong demand and its largest-ever crop putting the kiwifruit marketer on track to exceed its longstanding target of $4.5 billion in global revenue.
Forecast per tray returns have strengthened from the last forecast in November for all fruit categories other than Green, which remains in line with November's forecast.
At a per hectare level, returns for Green and Organic Green have reached record levels off the back of this season's improved yields and the strong value secured for fruit throughout the season. SunGold per-hectare returns have also increased from November, while forecast RubyRed Kiwifruit returns remain steady on both a per tray and per hectare basis.
CEO Jason Te Brake says strong demand has allowed Zespri to sell a record crop of more than 190 million trays at strong value for growers.
"It's been a very positive season. With our crop volume significantly up from the previous year, the industry's efforts to deliver good quality fruit have supported strong sales in our key markets.
"The strong value we've secured on a big crop means we'll exceed the target set in 2015 of reaching $4.5 billion in global revenue by 2025. This is a tremendous effort from the industry and reflects our commitment to building brand-led demand, delivering outstanding quality kiwifruit to our markets, and innovating to create value for growers.
"There's a strong sense of confidence within the industry, with the successful industry discussion on expanding ZGS at the end of 2024 showcasing our ability to make strategic decisions together, and it's great to see growers positive and the industry moving forward so strongly.
"With a positive outlook and strong demand for our fruit, we're looking forward to the 2025 harvest which commenced today, as we look to build on the strong momentum the industry has.
"Growing conditions have been largely positive for most growers, with a total crop of more than 200 million trays and our focus will be starting the season strongly with a good supply of high-quality fruit so we can again maximise early season sales opportunities and continue to return strong value to our growers."
Zespri's final season results will be published in May.
2024/25 February OGR Forecast per tray and per hectare returns
¹RubyRed 2023/24 Final OGR restated for 46s as a standard supply for comparative purposes. Final 2023/24 EF actual OGR was $26.34/TE.
For more information:
Anna Cross
Zespri
anna.cross@zespri.com