Kiwifruit has Multi-Billion Dollar Future: Agri-boss Ian Proudfoot

The New Zealand kiwifruit industry could grow in the next decade to become a $10 billion industry by increasing its share of added value, says Ian Proudfoot, global head of agribusiness for KPMG.

Kiwifruit exports totalled $1.9 billion in 2015-16, and Zespri spokeswoman Rachel Lynch said the current target was to more than double sales to $4.5b by 2025.

Mr Proudfoot, who was one of the key speakers at last week’s Zespri Momentum conference in Tauranga, said New Zealand’s total food-related exports were about $38b.

But he noted that by the time those food exports were translated through the value chain to end-users, that value had risen to about $250b.

“The challenge for us is how to we capture more of that value added,” he said.

“That’s all about being closer to our consumers. And if we get closer to our consumers, I can see the kiwifruit industry over the next 10 years becoming a $10b industry. But equally, I can see other parts of the farm industry growing significantly as well.”

Read the full article courtesy of NX Herald at

www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11817915

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