Seeka

[RTM]

Praise where praise is due ... at least these guys are earning their keep. No point in praising management just when the sun shines anybody can bask in the sun.

But yes, I am holding. Good company, difficult times.

I am holding as well...probably get hiding today I guess.
Once concern I have is if the warming and changing climate will be as suitable for growing KiwiFruit as it was previously.
Our winter has been quite different than the previous 12 or so winters we have spent up North. And I add that info to the quality problems with the fruit they are seeing.
Just wondering.....who knows...might be better ?

[bull....]

on forecasts pe 21

[dibble]

I thought he was, like his name, pretty frank. If you think there is a future in food to me its still a decent stock but 2 concerns: the chemical possibly soon to be banned that gives budding a real boost (lower yield to be countered by increasing vinage-if thats a word); and the delay in ripening of one of the varieties, 15% ready when expected 80%. If this is just growing seasonal variation it still makes planning (pickers etc) really difficult/expensive but if it heralds the start of the breakdown of the growing cycle then...we thats not ideal.

[BlackPeter]

I thought he was, like his name, pretty frank. If you think there is a future in food to me its still a decent stock but 2 concerns: the chemical possibly soon to be banned that gives budding a real boost (lower yield to be countered by increasing vinage-if thats a word); and the delay in ripening of one of the varieties, 15% ready when expected 80%. If this is just growing seasonal variation it still makes planning (pickers etc) really difficult/expensive but if it heralds the start of the breakdown of the growing cycle then...we thats not ideal.

Did you watch the webinar? He explained that. Unseasonal rain stopped / delayed the ripening of the fruit.

Not a "breakdown of the growing cycle"- though, obviously - with climate change accelerating should we expect unusual weather events becoming more and more usual. This however is a problem all growers will face, i.e. as long as comsumers want fruit it is a cost they ultimately have to carry.

[Jaa]

To avoid "late machine commissioning" wouldn't a competent management commission their machinery in the 9 months of the year that it sits mostly idle?

Maybe all those growers so keen to sell their co-ops (Aongatete, OPAC, Orangewood, NZ Fruits) and then dump their Seeka shares knew more than us mere punters all along.

[BlackPeter]

To avoid "late machine commissioning" wouldn't a competent management commission their machinery in the 9 months of the year that it sits mostly idle?

Maybe all those growers so keen to sell their co-ops (Aongatete, OPAC, Orangewood, NZ Fruits) and then dump their Seeka shares knew more than us mere punters all along.

I suppose you didn't watch the webinar? That's what the plan was.

But sure, I recon they should have predicted all these freight congestion due to Omicron and the Chinese lock downs when they ordered the machine 2 years or so ago ... I am sure you could have told them with the benefit of hindsight, couldn't you?

[bull....]

Did you watch the webinar? He explained that. Unseasonal rain stopped / delayed the ripening of the fruit.

Not a "breakdown of the growing cycle"- though, obviously - with climate change accelerating should we expect unusual weather events becoming more and more usual. This however is a problem all growers will face, i.e. as long as comsumers want fruit it is a cost they ultimately have to carry.

climate change will be a added big risk for growers with no way of being able to predict what will happen each yr.

[Jaa]

I suppose you didn't watch the webinar? That's what the plan was.

But sure, I recon they should have predicted all these freight congestion due to Omicron and the Chinese lock downs when they ordered the machine 2 years or so ago ... I am sure you could have told them with the benefit of hindsight, couldn't you?

I would love to but the Zoom ID has expired. Prefer the Turners method of sharing it on YouTube for people to watch when they have time. See Seeka have posted the presentation from Feb but not this one with the bad news/explanations even though it would appear market sensitive. Competence?

Freight issues have been "normal" for at least 2 years, if anything they have been easing this year. These big automated agricultural machines are notoriously hard to get working. I wouldn't plan my harvest around one but with the "labour shortages" I guess they hoped for a magic solution.

I use quotes as between friends and my own experience working in Kiwifruit it always amazed me what a terrible deal it was. Seasonal, low pay, terrible bosses and no guarantee of income. If they hired people on salaries year round at the average wage the industry wouldn't exist which is always risky for shareholders/growers if the flow of imported seasonal labour is disrupted. e.g. backpackers, RSE and various immigration scams.

Have always thought Seeka one of the better operators but you can't fight industry dynamics.

[BlackPeter]

climate change will be a added big risk for growers with no way of being able to predict what will happen each yr.

Absolutely. And humans will just stop eating to compensate for this problem, won't they?

Well, maybe not.

Given that the risks of climate change apply to anybody in this essential industry and given that humans still will need food - why would that be a specific problem for Seeka? If climate change reduces the yield in the industry (which it might) than consumers will be happy to either pay more or eat less.

Take your pick.

[BlackPeter]

I would love to but the Zoom ID has expired. Prefer the Turners method of sharing it on YouTube for people to watch when they have time. See Seeka have posted the presentation from Feb but not this one with the bad news/explanations even though it would appear market sensitive. Competence?

Freight issues have been "normal" for at least 2 years, if anything they have been easing this year. These big automated agricultural machines are notoriously hard to get working. I wouldn't plan my harvest around one but with the "labour shortages" I guess they hoped for a magic solution.

I use quotes as between friends and my own experience working in Kiwifruit it always amazed me what a terrible deal it was. Seasonal, low pay, terrible bosses and no guarantee of income. If they hired people on salaries year round at the average wage the industry wouldn't exist which is always risky for shareholders/growers if the flow of imported seasonal labour is disrupted. e.g. backpackers, RSE and various immigration scams.

Have always thought Seeka one of the better operators but you can't fight industry dynamics.

Jeez, you sound like somebody with an axe to grind.

Numbers didn't look horrible - better than last year and better (or equal) to analyst predictions.

Ah yes, and Michael Franks offered that anybody with additional questions re the announcement can contact them (him or the CFO) after the meeting - contact details are in the NZX announcement.

Why don't you do that? Too hard for you? I guess whinging and making false claims on an anonymous internet forum is easier?

I am wondering in whose court the competence issues might lie?