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Highlights
- Stats NZ reported that gold kiwifruit led fruit exports in a challenging market.
- ALF has projected a net profit before tax in the range of $1 million to $1.2 million for the interim period ended 31 December 2021.
- Seeka Limited notified on Monday about clearing due diligence on NZ Fruits.
New Zealand is a global exporter of fruits and vegetables.
The latest statistics from Stats NZ revealed that Kiwifruit made up for 71% of the total value of fruit exports. Gold kiwifruit accounted for 47% of the total fruit export value for the year ended November 2021 while green kiwifruit made up for 23%.
Total fruit exports remained relatively flat, up 1.3% for the year ended November 2021 compared with the same month in 2020.
International trade manager Alasdair Allen stated that while green kiwifruit continues to be in high demand, NZ growers are gradually planting gold, and now red kiwifruit, to capture greater export value in markets like China and Japan.
Image source: © 2021 Kalkine Media®, Data source- EODHD/Others
Let’s have a look at how these 5 agricultural stocks are performing as 2021 nears its end.
PGG Wrightson Limited (NZX:PGW)
PGG Wrightson is a major supplier to the agricultural market. The Group increased its operating EBITDA guidance this month to nearly $58 million for FY22 compared to $56 million last year.
The Board exhibited strength in responding to COVID-19 rules.
PGW ended the day 2.15% in green to close at $4.75.
Allied Farmers Limited (NZX:ALF)
Allied Farmers operates as a rural services and finance company. ALF has projected a net profit before tax in the range of $1 million to $1.2 million for the interim period ended 31 December 2021.
DO READ: Which are top 5 NZX consumer stocks of 2021?
The result is propelled due to substantial improvement in veal processing returns and an initial half-year contribution from NZRLM.
ALF ended the day flat to close at $0.83.
Scales Corporation Limited (NZX:SCL)
Scales is a diversified agribusiness group. The Company recently informed the market that one of its directors, Sun Qiang, has resigned from her position.
In addition, it was announced that Qi Xin has joined Scales Corporation as a non-executive director.
SCL ended the day 1.98% in red to close at $5.45.
Livestock Improvement Corporation Limited (NZX:LIC)
Agri-tech co-operative Livestock Improvement Corporation announced that it would pay a special dividend of 10cps to its stockholders. The fully imputed dividend of $14.2 million is due to be paid on 21 January 2022.
RELATED READ: Are these 5 NZX agriculture stocks worthwhile ahead of 2022?
LIC ended the day flat to close at $1.4.
Seeka Limited (NZX:SEK)
Seeka derives its revenue from packhouses and orchards. The Group notified on Monday about clearing due diligence on NZ Fruits and fulfilling the requirement of the Amalgamation Implementation Agreement announced on 10 December 2021.
DO READ: Which 2 NZX food stocks can be considered amid inflation?
The transaction still has few requirements to be met.
SKL ended the day flat to close at $5.25.
Bottom Line
Adopting sustainable methods to grow crops while maintaining soil health can help the agricultural sector thrive and mitigate climate change.
(NOTE: Currency is reported in NZ Dollar unless stated otherwise)