Wednesday, 12 July 2017 09:50

Changes to kiwifruit regulations

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New changes to update kiwifruit regulations and help future-proof the industry will come into force on 1 August 2017, Minister for Primary Industries Nathan Guy has announced today.

“These changes were announced last year and will help ensure the industry is best structured for future growth,” says Mr Guy.

New amendments to the Kiwifruit Export Regulations will:

  • allow Zespri shareholders to consider setting rules around maximum shareholding and eligibility for dividend payments;
  • clarify the activities Zespri can undertake as a matter of core business; and
  • enhance the independence and transparency of the independent industry regulator, Kiwifruit New Zealand.

“These changes will give Zespri more options for promoting the ownership of its shares by active kiwifruit growers.

“They will give Zespri greater certainty for investing in activities such as research and development and in the marketing of New Zealand-grown kiwifruit, and ensuring that Kiwifruit New Zealand has the skill sets it needs to robustly consider collaborative marketing applications.

“These amendments won’t change the industry’s ‘single desk’ export framework, but will provide more certainty for Zespri’s shareholders and growers.

“These regulatory updates are the Government’s response to the industry’s self-review of its performance through the Kiwifruit Industry Strategy Project.”

Kiwifruit sales from New Zealand have reached record levels with 137.7 million trays sold in the year to March 2017, worth over $2 billion in export revenue. Global sales revenues are forecast to reach $4.5 billion by 2025.

| A Beehive release  || July 11,  2017   |||