Seeka

[bull....]

Kiwifruit orchardists in Te Puke could lose millions if truck access isn’t restored to their road before harvesting begins.

https://www.nzherald.co.nz/nz/stress...KZU2Z5KEOONTM/

[bull....]

2022 Kiwifruit industry regional contribution:

• Northland: $98m
• Auckland: $92m
• Katikati: $283
• Opotiki: $208m
• Tauranga: $276m
• Te Puke: $1070m
• Waihi: $33m
• Whakatane: $122m
• Waikato: $75m
• Poverty Bay: $89m
• Hawkes Bay: $39m
• Lower North Island: $5m
• South Island: $27m

https://www.nzherald.co.nz/nz/new-ze...PQ422XGQ3JKGM/

[peat]

yup, nearly all production is in areas recently ravaged by storms.
that Jan rally looked promising but has been eroded completely.
hard to see good times for a while

[percy]

yup, nearly all production is in areas recently ravaged by storms.
that Jan rally looked promising but has been eroded completely.
hard to see good times for a while

'
I woke up this morning thinking why have I not sold my wife's SEK holding after selling mine months ago
Well at the end of the day, the wife no longer holds any SEK shares,however she is now the proud owner of some KMD shares.
I expect KMD will be paying increasing divies which will keep her happy..

[Toddy]

There have been reports of hail events in the Bay of Plenty this evening.

Seeka and it's supplying growers can't catch a break.

[percy]

There have been reports of hail events in the Bay of Plenty this evening.

Seeka and it's supplying growers can't catch a break.

I feel really bad for all in the industry.Last couple of years have been so hard,now it gets even worse.

[BlackPeter]

... actually, the update so far does not sound too bad:

https://announcements.nzx.com/detail/406893

Seeka's core Bay of Plenty kiwifruit growing region was spared the worst of
the weather and was not materially impacted by the event.

However, the Hawke's Bay, Gisborne, Coromandel and Kerikeri regions had
varying degrees of impact, with Hawke's Bay being worst hit. Approximately 5%
of Seeka's kiwifruit supply is grown in the Hawke's Bay region. Seeka will
continue to assess the impact of the cyclone and will update the market if it
identifies a material loss.

Seeka has made an initial assessment of its major assets and has not
identified any significant damage.

Harvest 2023 kiwifruit volumes are expected to be lower than the 2022 harvest
year due to an early season frost, variable bud break and now this cyclone.
Our response to this circumstance includes a reduction to the 2023 capital
expenditure programme and a focus on reducing costs in line with the lower
crop expectation.

[iceman]

... actually, the update so far does not sound too bad:

https://announcements.nzx.com/detail/406893

You’re right. First indications are the orchards have not sustained devastation. I wonder about the roading and other infrastructure though .
Lets hope for the best

[Daytr]

I'm surprised that Northland is only $98M with the amount of Kiwifruit that's been planted around Kerikeri in the last few years. There are competing packhouses other than Seeka so perhaps they don't dominate as much as I would have thought. $2Bln collectively in the BOP!

[na2m1]

A bit of relief for the growers. https://www.1news.co.nz/2023/02/22/f...tart-recovery/