By PHILIPPA STEVENSON
The apple industry's debilitating $50 million foreign exchange dispute is close to settlement.
Exporter Enza and suppliers represented by Pipfruit Growers NZ say meetings this week have all but resolved the row.
The prospect of the first hearing before an arbitrator next Monday is understood to be pushing the
parties towards a solution.
But a settlement, which may be announced as early as today, is also likely to be subject to conditions.
In a report on Monday, Pipfruit Growers said Enza had agreed to take responsibility for forex losses of around $20 million due in 2002 if it could get finance for the deal.
The grower group said it stipulated that finance arrangements needed to be confirmed within two to three weeks, with growers subsequently seeing the benefit in fruit payments. Enza is deducting $4.50 a carton from grower payments to cover the $50 million debt.
Other conditions included growers who are taking the arbitration action withdrawing their claim, and 90 per cent of suppliers, by volume of export apples, agreeing to the company's offer.
