New Zealand’s avocado industry needs to brace itself for a period of lower prices and volatility ahead as its key Australian market is swamped with the fashionable fruit, and returns from its emerging Asian market lag behind. Avocado was the first fresh fruit to receive funding under MPI’s Primary Growth Partnership (PGP) scheme through the New Zealand Avocados Go Global program. Under the Go Global program, MPI in June 2014 agreed to give the Avocado Industry Council $4.28m over five years. The industry committed to matching investment of $2.93m in cash and $1.35m of in-kind contributions, taking the total value of the program to $8.56m. It was extended in 2019 to $11.4m in value over seven years to June 2021, taking total government funding to $5.4m, and industry investment to $5.96m - $3.96m in cash and $2m in-kind.

Source: Stuff August 15, 2022 20:21 UTC