Zespri’s final forecast for the 2024-25 season shows strong demand and its largest-ever crop putting the kiwifruit marketer on track to exceed a 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 kiwifruit, which remains in line with November’s forecast, according to a news release.
At a per-hectare level, returns for green and organic green kiwifruit have reached record levels off the back of this season’s improved yields and the strong value secured for fruit throughout the season, the company said. SunGold kiwifruit 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 on the previous year, the industry’s efforts to deliver good quality fruit have supported strong sales in our key markets,” he said in the release.
Te Brake said the strong value the company has secured on a big crop means it will exceed a target set in 2025 — 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,” he said.
“There’s a strong sense of confidence within the industry, with the successful industry discussion on expanding [the Zespri global supply program] 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,” Te Brake continued.
With a positive outlook and strong demand for its fruit, Te Brake said Zespri looks forward to the 2025 harvest that recently commenced, as the company seeks to build on strong momentum in the industry.
“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 maximize early season sales opportunities and continue to return strong value to our growers,” he said.
Zespri said its final season results will be published in May.
The company provided the following table on 2024-25 February orchard gate return forecast on per tray and per hectare returns:
| Pools (Fruit categories) | 2024-25 February Forecast Per Tray | 2024-25 November Forecast | 2023-24 Final | 2024-25 February Forecast | 2024-25 November Forecast | 2023-24 Final |
| Zespri green | $8.10 | $8.10 | $9.55 | $86,987 | $86,948 | $65,717 |
| Zespri organic green | $11.63 | $11.17 | $12.53 | $89,589 | $86,154 | $56,086 |
| Zespri SunGold kiwifruit | $11.59 | $11.22 | $12.92 | $167,670 | $162,290 | $146,987 |
| Zespri organic SunGold kiwifruit | $14.93 | $14.32 | $14.71 | $153,543 | $147,296 | $113,449 |
| Zespri Green14 | $8.66 | $8.47 | $10.63 | $55,148 | $53,956 | $49,841 |
| Zespri RubyRed kiwifruit* | $16.66 | $16.60 | $18.87¹ | $71,304 | $71,047 | $40,741 |
¹RubyRed 2023-24 final OGR restated for 46s as standard supply for comparative purposes. Final 2023-24 EF actual OGR was $26.34/TE.
*NB: Zespri RubyRed kiwifruit is in its third year as a commercial pool. Forecast per-hectare returns have been influenced by a high proportion of productive hectares returning low yields impacted by vine age; 280 hectares producing for two years or less have returned an average yield of 3,674 trays per hectare and a forecast per-hectare return of $61,208 per hectare; 47 hectares producing for greater than two years have returned an average yield of 6,349 trays per hectare and a forecast per-hectare return of $105,782 per hectare; 25 hectares with mixed aged vines (with vine age of both two years or less and more than two years) have returned an average yield of 7,148 trays per hectare and a forecast per-hectare return of $119,088 per hectare.
