Comvita's reason for drop in profits from poor harvests - simply does not stack up.
Here's proof from a badly affected player - summing up what anyone in the manuka honey industry has known for the last 2 years - increased competition with corresponding drop in margins from many new players to obtain the unsustainably huge margins available a few years ago.
https://www.nxt.co.nz/companies/ONL/...cements/318773
Excerpt : "However pricing for Manuka Honey then dropped sharply in China. Margins evaporated and it became apparent that there was an over-supply of Manuka Honey in China with suppliers aggressively discounting their product. While the market has now recovered, margins are still significantly less than they were two years ago".
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