Rockit ready to launch

Feilding rural investment company Myfarm is chasing $13 million for the lease and development of four apple orchards in Hawke’s Bay.

The investment group will grow the niche export apple brand Rockit, a mini-apple under licence by Rockit Global.

One of the Rockit Global’s challenges has been growing enough apples to meet global demand despite production lifting 40 per cent on last year.

In spite of higher numbers, the crop sold out several months earlier than last year and delivered a price increase.

The miniature snack apples, sold in a plastic tube, are grown in nine countries and sold at airports, sports stadiums, and in cafes in 29 countries. Myfarm chief executive Andrew Watters said it had worked with Rockit Global to create an opportunity for New Zealanders to share in its success.

He said Ra¯ kete Orchards Limited Partnership would lease and fund planting of 55 hectares in four blocks in Hawke’s Bay’s Heretaunga Plains, the only new planting of Rockit apple trees in New Zealand next year.

Rockit Global would provide the Rockit apple trees, orchard management services, packing and storing and markets, and sell the apples offshore.

The Ra¯ kete Orchards lease model, with a term of 18 years plus two rights of renewal of five years each, suited the production of the trademarked apple, which had a further 22 years to run under its plant variety rights, Watters said.

Myfarm is forecasting that the partnership would generate a higher return than the ‘‘darling’’ of New Zealand horticulture, Gold3 Kiwifruit.