Record profit for fruit marketing board?

Press, 21 July 1982, Page 14

Record profit for fruit marketing board?

PA Wellington The Apple and Pear Board is likely to make a record profit of up to $2O million this year. Its general manager, Mr Jim Bremner, has said that total export earnings would be close to $125 million, well up on the previous record of $lOO million. This year's profit would also be a record, but he was reluctant to say how much it would be.

Informed sources said, however, that it would be up to $2O million. Last year the board made a loss of about $ll million.

“Last year everything went wrong, but this year everything has gone right for us," Mr Bremner said. Average returns were about 80 per cent higher than last

year, the result of a strong Northern Hemisphere market and a substantial devaluation of the New Zealand dollar.

“In the United States last year Granny Smiths were receiving about SNZI4 a carton. This year they are getting about $25.50. In Europe, Granny Smiths are getting about $26. compared with $l4 last year,” he said. Total export shipments would be about 5.4 million cartons, slightly . less than last year’s 5.45 million. The total crop was 10.6 million cartons, which was slightly less than the 11 million which the board had earlier expected. Most of this year's export shipments have’ now been sold. Mr Bremner said that the

ban by the European Economic Community on Argentine imports, including apples, had not had much effect on the market.

The Northern Hemisphere apple crop was not a heavy one, and its quality did not allow as much fruit to be held over until June and July as last year, he said. The soft fruit crop — strawberries, peaches, and the like — was also late in Europe, and the weather was favourable for apple sales. However, competition from other Southern Hemisphere producers had been strong, especially South Africa. Prices in recent weeks had eased slightly as a result. The E.E.C. is again the major market, taking nearly 3.5 million cartons.