Newspaper Article 1980 – Profit of $15m on fruit

Profit of $15m on fruit

Alexandra

The Apple and Pear Marketing Board this year expects to make a record profit of $15.1-million, the chairman Mr Ken Kiddle, Havelock North, told the Fruitgrowers Federation’s national conference in Alexandra today.

Board suppliers will receive 60 per cent of it, amounting to 95c a carton.

The board’s financial year did not end until November 30 so final figures would not be known until then.

The 40 per cent of profits retained would go to reserves, said Mr Kiddle.

Last week the average price for apples to growers was increased 25 per cent to $2.66 a carton. The pear price was set at $3.57 a carton.

Growers would receive this week the money due as a result of the increase, 53c a carton.

By the end of next week the board would pay growers an advance from the profits of 38c a carton.