Announcement
MKTUPDTE: SEK: Seeka provides New Zealand kiwifruit harvest update
09:08am
SEK
19/05/2022 09:07
MKTUPDTE
PRICE SENSITIVE
REL: 0907 HRS Seeka Limited
MKTUPDTE: SEK: Seeka provides New Zealand kiwifruit harvest update
Whilst kiwifruit harvest is still ongoing Seeka advises crop volumes expected
to be down
Seeka Limited [NZX:SEK] provides the market with this mid-season New Zealand
kiwifruit harvest update.
The SunGold harvest in New Zealand is completed and the Hayward harvest is an
estimated 38% completed.
The total New Zealand SunGold kiwifruit crop is estimated to be 103.3m trays,
a reduction of 9.7% on prior forecast industry volumes, New Zealand wide.
Seeka's SunGold volume reflects this seasonal variation with a total volume
packed of 26.0m trays. While the current years volume is ahead of the 17.9m
packed in 2021, it is behind the current year estimate by 8.2%.
The total New Zealand estimated Hayward kiwifruit crop has been reduced by
4.7% to 65.1m trays, noting that there is still approximately 62% of the
fruit unharvested and a continuing risk of further reduction. Seeka has to
date packed 5.6m trays and is entering the main pack phase of the Hayward
harvest.
Seeka advises that it is too early to provide current year earnings guidance
and expects to do so once Hayward harvest and packing is complete. The 2022
season is proving to be a challenging one for the company with lower crop
volumes and a tight labour market exacerbated by Covid 19 disruption.
Release ends.
For further information please contact:
Michael Franks Seeka Chief Executive +6421356516
Nicola Neilson Seeka Chief Financial Officer +6421841606
End CA:00392302 For:SEK Type:MKTUPDTE Time:2022-05-19 09:08:01
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