Stable growing conditions have helped paint a positive picture for Seeka, New Zealand’s largest kiwifruit grower and expert in supply-chain management that’s delivering the country’s best produce to markets around the world. The publicly listed company enjoyed a big lift in yields last year, compared to 2023 when many growers were hit hard by bad weather.
Calmer conditions in 2024 boosted fruit volumes and helped lift the company’s revenue to a record $411 million and a net profit after tax of $8.8 million. Yields were up 44% in 2023. At the time of writing, the 2025 kiwifruit harvest was approaching the halfway mark and shaping up very well. In February, volumes were already tracking to be as good as or better than 2024.
“Seeka still holds that view, and the kiwifruit industry is forecasting an increase in crop volume of more than 5% on last year’s crop,” says Seeka chief executive Michael Franks, who observes that overall crop quality is also stacking up well, thanks to the good growing season. Tight cost-control measures and investment in innovation, in turn, drive efficiencies and are also feeding into a strong bottom line for Seeka.
“The Seeka share will have been one of the top-performing stocks in the last 12 months in New Zealand.”
In addition to reshaping the business, Michael says the company has innovated with mechanisms like the Captive insurance structure, effectively placing its material damage and business interruption insurance directly into the international market. “This mechanism has actually reduced Seeka’s insurance costs and avoided the increases in insurance costs experienced across New Zealand. Seeka estimates that the savings to date are more than $5 million.” It is all positive news for investors.
“The Seeka share will have been one of the top-performing stocks in the last 12 months in New Zealand,” Michael says. Seeka continues to hone its portfolio, having recently taken over the plant of Northland company Olivado, which went into liquidation earlier this year. All seven Olivado employees have since been offered jobs with Seeka. Olivado had been producing several types of oil, including avocado oil. As an existing avocado oil producer, Seeka had previously used Olivado’s pressing services in the north. The acquisition consolidates their operation in the region.
It also dovetails nicely with Seeka’s sustainability and value-recovery objectives around reducing food waste and delivering more value from each crop. Seeka’s wholly owned subsidiary, the Delicious Nutritious Food Company (DNFC) already specialises in producing Kiwi Crush and Kiwi Crushies from kiwifruit deemed unsuitable for direct consumer sales. Michael says the Olivado plant will be integrated within their DFNC operations. “In fact, Seeka will move all its oil manufacturing to Northland.”
Seeka’s roots are in Te Puke’s kiwifruit orchards, where kiwifruit growers first teamed up in the early 1980s to generate better returns. Seeka has grown to become the country’s dominant kiwifruit grower. By creating jobs and opportunities, Seeka is making a real impact in rural communities around New Zealand. A notable example is Seeka’s collaboration with iwi and local government over recent months to convert low-yielding land into productive kiwifruit orchards on the East Cape. “Seeka’s relationship with Māori extends back to the first days, and we have many examples. In Raukokere, for example, there are around 26 people in full-time employment as a result of the development with iwi.”
Meanwhile, Seeka is working fast to build resilience in response to climate change. New regions and crops are being assessed, and orchard practices are being adjusted to support sustainable fruit production and supply. That work is ongoing in 2025, with the company focused on reducing waste, increasing solar generation, reducing fertiliser use and improving plants to reduce harmful refrigerants.
As part of its climate-change response, Seeka is diversifying into New Zealand’s citrus industry as a contract packer service provider. As citrus operations peak prior to the kiwifruit harvest, it also provides continuous employment to local workers. As well, there are inherent efficiencies in post-harvest infrastructure handling more fruit over a longer period. Reflecting its commitment to a low-GHG energy future, Seeka is actively installing solar panels where practicable – for example, at its post-harvest facility in Katikati. Seeka Katikati has high sunshine hours, but it also makes strategic sense to invest in solar generation there.
“Katikati is a good location for solar as we pack avocados there, so we have power demand in summer; we also had suitable roof space there for the development,” Michael says. Connecting growers to the world, Seeka remains laser-focused on excellence and bringing high-quality, sustainably grown fruit from the orchard to the market.
© Waterford Press Ltd 2025 – Independent Print Media New Zealand
