New Zealand’s kiwifruit industry has well and truly weathered the COVID-19 storm and is experiencing another gangbuster season. In early June, Zespri reported net global kiwifruit sales for 2019/20 were up 7% to $3.14 billion. Average orchard returns from SunGold, our most valuable variety, increased by 11% to $161,660 per hectare.
MyFarm’s latest kiwifruit investment is a 15 canopy hectare orchard located in Eastern Bay of Plenty on the Rangataiki Plains - an up and coming area that’s proving to be prime gold kiwifruit growing country. MyFarm has two other SunGold orchard syndicates nearby, both of which are performing well ahead of their budget forecasts.
This is primarily an income story with cash returns to be paid monthly, starting in September 2020. There is also added potential for a development margin following the conversion of 4.36 hectares of green kiwifruit to the SunGold variety next year.
Location: Rangataiki Plains, near Edgecumbe
Size: Total 15 canopy hectares - 10.5 cha SunGold and 4.36 cha green kiwifruit to be converted to SunGold
Lessee: DMS Progrowers
Income: Lease rental plus share of orchard profits. Includes 2020 crop.
Returns: Forecast average 8.6% cash returns in the first 5 years
Distributions: Paid monthly, starting in September
Minimum investment: $50,000* – 80% due on application and the balance due in May 2021 following the SunGold licence tender
Offer status: Fully subscribed.
MyFarm Investments Contacts:
Karen Richardson 021 262 2779, firstname.lastname@example.org
Grant Payton 029 445 5871, email@example.com
For more information about whether you qualify for investment please click here.