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NZ apple profits to drop as pandemic disrupts both harvest and exports

New Zealand apple grower T&G Global Ltd. expects its full-year earnings to sink by as much as 75% due to the pandemic disrupting its harvest and exports. The company, which sells Jazz and Envy brand apples in about 60 countries, said its 2021 profit would be 4-10 million New Zealand dollars ($2.8 million-$7.1 million), compared with NZ$16.6 million in 2020.

Global shipping delays that stem from the Covid-19 pandemic have hurt business in regions such as Asia, the US and Australia, the company said Monday.

According to marketwatch.com, the company stated that business in New Zealand was hurt by labor shortages that mean part of its crop was unpicked and other challenges, also brought on by the pandemic.


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