Bay of Plenty is abuzz with the news that two kiwifruit orchard sales have broken through the $1 million per hectare mark.
The record up until now was $850,000 sold for a Te Puke orchard last year, which like the new record holder, was for a planted gold kiwifruit property.
The sales - to a Tauranga-based grower and a sheep and beef farmer - were in two lots. One of 5.76 ha sold for $5.76m and the other of 3.65ha "with a basic house on it" went for $4m.
The orchard gate returns last year were between $150-160,000 per canopy ha, and this year they should reach that mark again. Both properties were sold with kiwifruit still on the vines, providing immediate returns to the buyers.
ANZ economist Con Williams said the sales were proof of the buoyant state of the industry which is well on target to earn $2 billion worth in exports by 2020. At present the figure is $1.67b.
source: stuff.co.nz
