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.
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By GlobalDataThe 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”.
