Zespri is pleased to announce a positive settlement with its marine cargo insurers regarding the Crown Garnet mice incident that occurred in April 2024.
The $24.1 million settlement allows Zespri to capture the marine cargo proceeds in the 2024 SunGold Kiwifruit pool. After allowing for costs, this will return a substantial proportion of the losses attributed to the incident to SunGold Kiwifruit growers at a value of 17-18 cents per tray, which will be reflected in the next forecast in February.
Jason Te Brake, Chief Executive of Zespri, says the settlement was a positive outcome for the industry.
“We take fruit quality incredibly seriously and our decision to dispose of the fruit from the impacted vessel reflects our ongoing commitment to food safety and protecting our brand.
“We’re very pleased to have secured a positive result for the industry from this process, and I’d like to thank the Zespri team for their instrumental role in securing this outcome.”
Zespri continues to work on progressing its product contamination insurance claim, in relation to amounts not covered by the marine cargo insurance.
KEY MESSAGES
- Zespri has continued to progress cost recovery relating to the significant mice incident on its first European Charter vessel in April 2024
- Zespri has two insurance policies that it is seeking cover from – marine cargo and product contamination
- Following significant work from its insurance and legal teams, Zespri has secured a positive settlement from its marine cargo insurer
- The result is a $24.1m payout from insurers, benefitting SunGold Kiwifruit growers by approximately 17-18c per tray in the 2024/25 season
- Work is continuing to progress the product contamination claim in relation to amounts not covered by the marine cargo insurance
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