Kiwifruit boom or bust: The effect of climatic variation on kiwifruit production
The New Zealand kiwifruit industry has had a reputation of making millionaires in its early days and in making people bankrupt in its later years. However, as it is often the case, reality is somewhere between these extremes. Sure, there have been people who have made a lot of money in the early days of the kiwifruit industry in New Zealand and equally in the post 1987 crash, there are people who have lost money. They paid too much money for land, they had to borrow heavily to develop properties and were then hit by the very high interest rates of the mid to late 1980s – hard lessons in the economics of horticulture production.