North Canterbury News: July 08, 2021

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NEWS 16 North Canterbury News, July 8, 2021 Truffle ‘price war’ divides growers The harvest of Perigord black truffles has started and a‘‘price war’’ continues as values remain athird of historical prices. Allied Press’ Shawn McAvinue investigates the factors impacting the price of the ‘‘black gold’’ and the state of the industry. Ablack truffle‘‘price war’’ is ragingin New Zealand. LimestoneHillsowner Gareth Renowden, of Waipara Valley, grows Perigord blacktruffles in his truffiereof about 220 trees in NorthCanterbury. The truffle species was the first type to be planted in New Zealand, had the most growers devoted to it and fetched the highest prices,hesaid. The average market price for a premium Perigordtruffle in New Zealand had been about $3 agram for the past 20 years,hesaid. In the past two years, more growers in New Zealandhad beensupplying Perigord truffles to the domestic market. Demandfor truffles dropped lastyear, after restaurants closeddue to the financial impact of Covid19. Consequently, some‘‘newcomers’’tothe sectorbegansellingPerigord truffles fora ‘‘ridiculously low price’’last year. ANorth Island truffle cooperative ‘‘triggered the price war’’ by workingwith Bidfresh—adivision of foodwholesaler Bidfood —bymarketing truffles for $1 a gram. Bidfreshused lowprices as a‘‘weapon’’, ratherthan creating aclient base by building relationships,like truffle growers had over several years. George’sTruffles owner and New Zealand Truffle Associationacting presidentGeorge Wilkinson,ofTasman, sold his Perigord truffles from $1 agram ‘‘undercutting’’ the market,MrRenowden said. Many growers were‘‘ropeable’’bythe price being ‘‘hammered’’ down. ‘‘There was alot of illfeeling about how the markethad been devastated by these veryrash and illconsidered shortterm plans.’’ Asteadyprice was important, as growers created abusinessplan on a forecast financial return,sowhen the price dropped it had aseriousimpactona truffiereoperation, he said. As Mr Wilkinson had ‘‘ledthe price war’’ he was in no positiontoadvocate for the sectorand to get growers cooperating to create exportopportunities, or to make efforts to rebuild grower returns. ‘‘Dumping truffleinthe market is not a verynice thing to do to your colleagues.’’ The sharpfall in pricing was an ‘‘eyeopener’’ for growers. ‘‘Noone expected the pricing in the market to collapse quite as dramatically.’’ The drop had resulted in him losing ‘‘a few sales’’ but most of his clientsstayed withhim because he had built ‘‘close relationships’’ withthem overthe past 15 years. Mr Wilkinsonsaid he grew Perigord truffles among the 2200 treesofhis commercialtruffiereinMotueka. He beganselling in 2016 and was now selling a‘‘high volume’’oftruffles offeringthree grades exclusively to chefs in New Zealand. The lowest grade soldfor $1 agram. He sold truffles at pricesheconsidered to be fair, ratherthanworkingtoa‘‘price point’’, like some other growers. The aim was nevertopoachclients from other growers but to offer aproduct at a price and let the chefs decide on the best deal. Truffle scuffle ... Limestone Hills owner Gareth Renowden, of Waipara Valley, smells a truffle in North Canterbury. PHOTO: PAUL THOMPSON ‘‘It’ssimple business. Idon’t see it as a price war.’’ Bidfresh Hamilton generalmanager Gus Tissink said he rejectedMr Renowden’s claim Bidfresh had triggered aprice warbyreducing prices. About 30 percentofBidfreshtruffle supplylast season —about 15kg —was offered at $1 agram to specific clients. The remaining 70% of truffle was offered to the market at the normal price of $2.50 agram. Bidfresh was selling all its truffle at $2.50 agram this season and the produce was ‘‘moving’’ at that price. He expectedanoversupplyoftruffle to be an ongoing issue as there were more than 250 truffieres in New Zealand producing up to 400kg of produce. ‘‘The marketisnot goingtobeable to holdthat value domestically.’’ Mr Renowden doubtedtruffleprices would recover to the $3 agram price but expected it to settlebetween $2 and $2.50 agram if the sector beganexporting. An association member and former president, Mr Renownden saidexporting was asolutiontothe issue of oversupply on the domestic market. Truffles had a10day shelflife and would need to be airfreighted to international markets. He agreed international markets would wantmuch more than individual growers could supply, so the industry neededto ‘‘pool their crop’’ to meet the demand. Need Heat Fast? The Fastest, Warmest Indoor/Outdoor HeaterYou Will Ever Own! Buy One Get One Free! * +Plus Free Floor Stand!* worth $199.99 • Heats UpInstantly • Suitable for Indoors orOutdoors –InRain, Fog, Wind or Snow • Carbon-Fibre Bulb Technology *Call forTerms &Conditions • Multi-Directional Stand • Includes Remote Control & Built-In Timer • Motion Detection Function 1.8m High • Commercial Grade • Multi-Directional • Easy Install • Portable • Indoors &Outdoors CALL NOW! 0800 665 665
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North Canterbury News: July 08, 2021

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