Strong forecast returns for growers has Zespri on track for $4.5 billion sales goal

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Zespri’s latest indicative forecast for the 2024/25 season reflects improved yields and the industry’s largest ever crop of 197 million packed trays, with the company on track to deliver strong value to growers and reach its goal of $4.5 billion in global sales revenue this season.

Forecast per hectare OGRs have increased from last season, with the mid-point of current ranges above last season’s final per hectare returns for all pools. Green and Organic Green forecast per hectare returns are expected to be at record levels. 

CEO Dan Mathieson says while there are some challenges this season, Zespri is continuing to see strong demand, with the industry’s efforts to deliver consistently high quality fruit supporting strong sales in key markets. 

“It’s really pleasing that today’s forecast indicates we’re on track to deliver strong value to growers and to meet our target of $4.5 billion in global sales revenue by 2025.

“After a tough growing season last year, it’s great to see per hectare returns rebound on the back of much better on-orchard yields which is positive news for our growers. 

“Feedback from customers on this season’s fruit quality has been positive and has supported the strong start we’ve made in key markets, including achieving record sales weeks in our core markets.

“Maintaining our focus on quality in a season where we have significantly more fruit to deliver will remain critical to maximising value for growers.

While forecast per hectare returns have strengthened off the back of larger volumes of fruit this season, per tray returns have dipped from last season’s record highs. The bottom end of the latest forecast per tray range has however, lifted from Zespri’s March indicative forecast for all categories other than SunGold and Green14 Kiwifruit.

“It’s an encouraging forecast, however there are still some challenges in this season’s smaller fruit profile and unfavourable foreign exchange movements from the Japanese Yen.

“Our teams in New Zealand and in market are working hard to manage these, as we look to deliver value through careful monitoring of our fruit inventory levels, strong marketing campaigns and pricing that supports strong run rates throughout the season. 

“As we move further into the season, our focus will be continuing the positive momentum and delivering strong value to growers,” Mr Mathieson says.

2024/25 Indicative June OGR Forecast per tray and per hectare returns
Pools (Fruit Categories) 2024/25 Indicative Per Tray Range  – June Forecast 2024/25 Indicative Per Tray Range – 22 March Guidance 2024/25 Indicative Per Hectare Range – June Forecast 2024/25 Indicative Per Hectare Range  – 22 March Guidance
Zespri Green  $7.50-$8.50 $7.00 - $8.50 $80,000-$91,000 $75,000-$91,000
Zespri Organic Green $9.75-$11.25 $9.50 - $11.50 $75,000-$86,000 $67,000-$81,000
Zespri SunGold Kiwifruit  $10.00-$11.25 $10.00 - $11.50 $143,000-$161,000 $145,000-$166,000
Zespri Organic SunGold Kiwifruit  $12.50-$14.00 $12.00 -$14.00 $129,000-$144,000 $130,000-$151,000
Zespri Green14  $8.00-$8.75 $8.00-$9.50 $51,000-$56,000 $45,000-$54,000
Zespri RubyRed Kiwifruit $16.25-$17.75 $16.00-$18.00 $69,000-$76,000 $50,000-$56,000

Note: All figures are in $NZD