Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Departing Satara boss Wilson takes final jab at Zespri fees

Satara boss Wilson takes final jab at Zespri fees in outgoing update

By Paul McBeth

Jan. 10 (BusinessDesk) - Departing Satara Cooperative Group boss Tom Wilson has taken a stab at Zespri International's brokerage fees at the expense of growers in his last update to shareholders.

The Te Puke-based kiwifruit and avocado grower is still in talks with Zespri, which controls the nation's kiwifruit exports, over its 6 percent brokerage rate on gross sale proceeds and 6 percent of FOB sales, which Wilson says is costing growers between $60 million and $140 million every year.

"I continue to be amazed at the politics, patch protection and commercial arrogance that prevents this money going to growers - this should have been sorted years ago," Wilson said. "We have a smart single exporter structure that actually needs to just focus on grower's commercial welfare to put a 'lazy' $1 per tray into your wallet."

Zespri's legislated export monopoly was unsuccessfully challenged by rival Turners & Growers in 2010 when a High Court ruling upheld regulations enshrining the export marketer's position.

Wilson finishes up at Satara at the end of the month, having been appointed managing director in 2010 on an interim basis when his predecessor Wes Anderson-Smith departed. During his time in charge, he attempted to grow the business through a merger with Eastpak which was subsequently scuttled by the outbreak of the Psa vine bacteria.

In September, Satara reported a 23 percent decline in first-half earnings to $877,000 on a 3 percent drop in sales to $32.8 million.

Like other kiwifruit growers, the company has had to contend with the Psa outbreak, which is threatening to cut export returns by as much as a quarter, according to government estimates.

Shares in Satara were unchanged at 45 cents today.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

R18: The Warehouse Group Praised For Removing Games

The decision by New Zealand’s largest retailer The Warehouse Group (TW Group), to withdraw stocks of the latest version of Grand Theft Auto V (GTA V) and other R18 games, has been praised by advocacy group Stop Demand Foundation. More>>

ALSO:

Air NZ Wine Awards: Victory For Villa Maria As Pinot Noir Thrills

It was a night to remember as Villa Maria Estate picked up one of the highest accolades of the evening, the O-I New Zealand Reserve Wine of the Show Trophy, at the 28th Air New Zealand Wine Awards. The Villa Maria Single Vineyard Southern Clays Marlborough ... More>>

ALSO:

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Commerce: Supermarket Inquiry Finds No Breaches By Countdown

The Commerce Commission inquiry into anti-competitive behaviour by Countdown supermarkets, alleged by former Labour Party MP Shane Jones, has found nothing to warrant prosecution, although it warns supermarkets to take care in the way they communicate... More>>

ALSO:

Crown Accounts: English Flags ‘Challenge’ To Budget Surplus

Finance Minister Bill English is warning next month’s half yearly fiscal and economic update from the Treasury may not forecast a budget surplus, saying that returning the government’s accounts to surplus in 2015 will be “a challenge”, given the decline in commodity prices and weak global inflation. More>>

ALSO:

March 2015: Netflix To Launch In Australia And New Zealand

World’s Leading Internet Television Network to Offer Original Series, Movies, Documentaries, Stand-Up Comedy Specials and TV Shows for Low Monthly Price More>>

ALSO:

Price Of Cheese (Is Up): Dairy Product Prices Fall To Five-Year Low

Dairy product prices fell in the latest GlobalDairyTrade auction to the lowest level in more than five years, led by declines in rennet casein and skim milk powder. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news