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New Zealand: High prices for gold kiwifruit licences

Each year Zespri releases new gold licences, and this year 700 hectares were available. Successful bidders have been told the lowest price paid for a gold licence was $378,000 a hectare. That's $100,000 more than last year's lowest price.

A kiwifruit grower told RNZ that the result is quite extraordinary. It would mean developing a kiwifruit block from a greenfield will cost around $800-900,000 a hectare. Meanwhile it is the first time red kiwifruit licences have been available, and it Is understood the lowest price was around $35,000 a hectare.

Bidding for both licences was over-subscribed.

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