Anecdotally poor season for UMF manuka honey
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Anecdotally poor season for UMF manuka honey
Impossible!
Didn't they say that after 2 bad seasons they find this year a different excuse for bad performance?
And Comvitas CFO stated in the annual report explicitly that they have all the ingredients to deliver in FY2019:
Attachment 10298
What a pity she was just acting ...
Word from the international markets isnt that great either. Being undercut by 20-30% by 'Australian Manuka'. PE still way out of wack IMHO
Be surprising if Comvita does not come out with a profit downgrade before it reports in around 2 weeks' time?
http://gisborneherald.co.nz/opinion/...apiculture-and
News certainly not great for the manuka honey industry as a whole.
"All of this comes at a time of a rather poor season, due to weather events combined with lower honey prices and tougher standards around the definition of manuka honey — leading to financial stress for some businesses and a lowering of business confidence in parts of the industry."
Last year's (2018) summer hot weather was blamed for the poor manuka honey harvest.
If anything, this year, 2019, the weather has been even hotter - https://www.stuff.co.nz/world/110346...a-few-weeks-in
Combined that with the explosion of beehives all attempting to extract what little honey is being produced by the manuka plants, things must be looking rather grim for Comvita.
https://www.nzherald.co.nz/business/...ectid=12190479
This is when you know you have your strategy wrong...…(sorry I was standing up when I took the photo)
Attachment 10315
Nothing 'magic' about the brand when you can buy it in Pak N Save, thrown in a bin! Or that it is the best channel that you have for your product!
And you also know that P&S won't lose out of it!
Talked to a beekeeper just yesterday who manages over a few tonnes of manuka honey from the North and some key points:
1. His company has had a good season compared to the last 2 seasons.
2. The testing regime for manuka honey is a 'mess'.
3. There is plenty of low quality manuka honey around still.
4. Comvita is still the industry standard as far as the China market is concerned but other players are making inroads and this should accelerate when the manuka honey testing regime is properly implemented.
5. 2 & 3 have resulted in a flood of blended manuka honey in the market.
Read into the above what you will.
Happy not to be in CVT!
Their website is "under maintenance". During the day? What is is? 2009?