With New Zealand economists predicting a substantial rise in the contribution of kiwifruit to the country's GDP, it may not come as a surprise that a green kiwifruit orchard recently sold for NZ$500,000 per canopy hectare.

The Bay of Plenty Times reported the sale of a 3.6 canopy hectare orchard in Te Puke was recently sold for NZ$1.8 million to equity partnership Waterview Downs Orchards Ltd, which already has a G3 (Zespri SunGold) orchard on the same street.

Partner Debbie Oakley told the publication the company had enough G3 licenses to start grafting the gold variety onto the orchard's existing green vines immediately once the property officially changes hands.

"We've paid a premium because we've bought a neighbouring block, which will make it easier for us to manage," she was quoted as saying.

Real Estate Institute of New Zealand rural spokesperson Brian Peacock told the Bay of Plenty Times the previous record was around NZ$460,000-$470,000 per canopy hectare.

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