Ratahi Cross, chair of the Ngai Tukairangi Trust, reports a year of recovery following the devastation of their Hawke's Bay operations by Cyclone Gabrielle. With operations across Northland, Bay of Plenty, Te Puke, Tairawhiti, and Hawke's Bay, the Trust faced significant challenges, particularly in their kiwifruit orchards in the Bay of Plenty and minimal damage to their apple orchards in Hawke's Bay.
Despite these setbacks, including a $25 million loss in production and an 11% drop in land values impacting debt repayment, the Trust has seen a productive season. The yield from Hawke's Bay kiwifruit orchards was about 75% of the expected, but an 'early start fruit' premium has compensated for the lower volumes. The Trust has utilized cash reserves for repairs and recently secured a $12 million loan from the Government's Kanoa fund for redevelopment. Infrastructure repairs and vine replanting at Puketapu are complete, signifying a move towards recovery. Despite the challenges, including market sluggishness due to global events, the Trust remains optimistic about its future and the well-being of its staff.
Source: ruralnewsgroup.co.nz