By PHILIPPA STEVENSON
Major apple growers are still considering a compromise deal landing them with $30 million of Enza's foreign exchange debt while the exporter covers $21 million.
A grower group representing at least half the $600 million crop postponed an arbitration meeting with the company on Monday.
Spokesman Jonathan Wiltshire said the
group had a number of factors to consider in assessing last Wednesday's settlement offer.
The arbitration meeting had not been rescheduled, he said.
Enza spokesman John Walsh said the company had received acceptances at a steady rate but had not analysed what production they represented. That would not happen until this Friday's cutoff.
Enza and Pipfruit Growers New Zealand said the deal was conditional on acceptance by most growers, Enza obtaining bank financing to cover about $21.1 million of exchange debt due next year, and the company facing no more costs from an investigation of foreign exchange dealings by the Apple and Pear Board.
Enza said it would immediately refund deductions taken from growers' fruit returns. That could put $12 million in growers' pockets this week, but it would have to be returned if the deal foundered.
The deadline for submissions on penalties the board could impose on Enza for "imprudent" exchange dealings has been extended from today until Friday.
