New Zealand kiwifruit marketer Zespri has significantly raised its full-year profit forecast to take into account license revenue from the release of 400 hectares of Gold3 in 2016.

Local media reported Businessdesk.co.nz reported the company was now forecasting profit of NZD$70-75 million (US$50-54 million) for the 2016-17 year, up from the original NZD$25-30 million (US$18-22 million) it gave in April.

The earlier forecast excluded revenue from the release of Gold3 licenses that were tendered in May.

Zespri said the closed tender bid process attracted broad participation from the industry with 1,376 hectares bid and 266 successful bidders for the 400 hectares of the SunGold licence, according to the story.

Half the hectares were reportedly restricted to Green and Green14/Sweet Green growers to provide an opportunity for existing green growers to convert over to SunGold. The other half was unrestricted and open to all growers and greenfield plantings.

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