“This fact, coupled with high supply chain costs, has meant orchard gate returns have been insufficient to support investment in next year’s crop,” Hawken said.
MyFarm – an agricultural land syndicator – said Rākete is a lease syndicate with six orchards in Hawke’s Bay.
The firm’s website says Rākete’s assets, worth $17.4m, cover a land area of 62.6 ha.
In a statement, Rockit, which markets its apples in distinctive plastic tubes, acknowledged the challenges faced by Rākete Orchards and its decision to appoint a voluntary administrator.
“We recognise the past few seasons have placed pressure on many Rockit growers, and we remain committed to supporting the grower community as we work to deliver our turnaround strategy,”…