ORANGE COUNTY, CA - Despite difficulties, Zespri is reflecting on the 2023/24 season with record average per-tray returns to growers across all categories, excluding a single offering. As the company unveiled the financial results from the period, Chief Executive Officer Dan Mathieson said the results reflect industry efforts.

“We’re delighted to be able to deliver such a strong set of returns to growers, including record per tray returns for all categories other than Organic SunGold, particularly after such a challenging period for the industry," Mathieson stated. “It’s really pleasing to see a significant increase in Green returns, up from $5.78 to $9.55 per tray, which is welcome news given how tough it’s been for our Green growers in recent seasons and the difficult growing conditions we’ve faced. These strong per tray returns have been driven by improved quality and good pricing alongside our investment in the brand and ability to build demand ahead of supply.”

In the summary of the financial results, the company highlighted the following:

• Zespri global operating revenue: NZ$4.21 billion (includes license revenue)
• Zespri global fruit sales revenue: NZ$3.99 billion
• Total 2023 Season New Zealand-grown fruit and service payments including loyalty premium: $2.29 billion
• Zespri global trays sold: 164.2 million trays
• Zespri’s net profit after tax: NZ$173.3 million (includes license revenue)
• Expected Total Dividends: NZ$0.85 per share

Some standout results, Mathieson continued, were seen in some of Zespri’s major markets.

“We’re really pleased with how things have gone in Europe, particularly in being able to deliver really strong value for our Green growers, and that’s been supported by strong value for Green fruit in Japan too," Mathieson continued. "China was a standout in terms of being able to deliver strong value for SunGold, reflecting the demand we’re continuing to see for this variety. RubyRed Kiwifruit is also continuing to perform strongly and offers us a great platform to start our season in our Asia Pacific markets. It’s been tougher for our organic categories, particularly on a per hectare level where a really big drop in yields has made it challenging, and continuing to lift per hectare returns across all categories as we manage greater volumes remains a focus for us looking ahead.”

In addition to the 2023/24 season results, Zespri’s leader was delighted at the strong start to the current 2024 season. To read in more detail on the report, click here.

With strong demand for Zespri’s kiwifruit encouraging the company and its customers, AndNowUKnow will continue to report on the events ahead for this and other key categories in our industry.

BAKERSFIELD, CA - New leader incoming! Sun World International recently named Dr. Elliott Grant as the newest member of its Board of Directors. Grant is Chief Executive Officer at Mineral, an independent Alphabet company working to unlock a more productive food system by applying the latest breakthroughs in artificial intelligence and perception.

Elliott is an almost singular thought leader, as he has spent his career acquiring deep knowledge in two specialties: agriculture and artificial intelligence, a press release stated. He recognized the potency of aligning these sectors long before some others did and is acknowledged as one of the leading voices in agriculture for the integration of data, emerging technologies, and AI deployment.

The new Director has two decades of innovation and company-building experience in agriculture and food supply chains and he sits on the Board of Directors of the International Fresh Produce Association. He was the CEO of ShopWell; the founding CEO of HarvestMark; and he was previously Vice Chair of the Produce Marketing Association. Elliott earned a Ph.D. in engineering from Cambridge University and has authored more than 30 U.S. patents covering innovations in ag robotics, crop phenotyping, cryptography, and satellite remote sensing. In his spare time, Elliott also invented the PTI VoiceCode.

Grant joins Sun World’s independent directors Ann Veneman and Sebastian Langbehn. The company’s board also includes Bridgepoint Group PLC Directors Hector Perez and Rupprecht Pranckh.

“I’ve had the pleasure of knowing Elliott for over 20 years,” said David Marguleas, Sun World’s CEO. “I don’t know anyone else who comes close to matching Elliott’s stature at the intersection of ag and tech. Not to mention that he is the quintessential left brain-right brain person who brings integrity and good humor to everything he undertakes. Elliott’s expertise in both sustainable ag and the application of emerging tech makes him an invaluable voice at Sun World as these are our dual priorities. Elliott joining our board has long been a goal of mine, and our entire team is grateful for his involvement.”

Congratulations to the new Director!

PROVIDENCE, RI - In the time I spent working for Whole Foods Market, I grew to know United Natural Foods, Inc. (UNFI) well. The two companies work in tandem to deliver natural foods to the masses. According to a recent report, they have extended their wholesale grocery distribution partnership by entering into an eight-year extension agreement for UNFI to serve as Whole Foods’ primary distributor.

“We are proud to extend our longstanding partnership with Whole Foods Market to provide high-quality foods and other valuable items to consumers all across the country,” said David Matthews, President of National Sales for UNFI. “We look forward to supporting Whole Foods Market and remain firmly committed to working together to serve the evolving needs of their consumers.”

The term of the newly extended distribution relationship between the parties will now run until May 2032, replacing the term of the prior agreement, which was set to expire in September 2027.

David Garraway, Vice President of Supply Chain for Whole Foods Market, also commented on the news.

"UNFI plays an important role in our supply chain as we continue to grow and serve more customers," said Garraway in a recent press release from the two companies. "We look forward to strengthening our longstanding partnership together."

For more on industry partnerships, you know where to find us.