The Government and the kiwifruit industry will invest almost $36 million over seven years to research plant breeding and new varieties.
The $35.7 million dollar investment into the combined Zespri and Plant & Food Research programme aimed to develop new kiwifruit varieties, Minister of Research Science and Technology Wayne Mapp said today.
The Foundation for Research, Science and Technology will contribute $15.2 million to the programme with Zespri contributing $20.5 million.
The partnership would form the world's largest and most significant research and development (R&D) programme into new kiwifruit varieties, the parties said.
The horticulture sector aimed to double the value of its earnings to $10 billion a year by 2020.
"By investing in the most rigorous and exacting kiwifruit R&D programme, we can ensure that new generations of New Zealand kiwifruit are the best in the world and that their commercial success delivers value and export earnings to New Zealand and New Zealand growers," Zespri chief executive Lain Jager said.
Foundation chief executive Murray Bain said the size of the investment was consistent with the importance of the kiwifruit industry to New Zealand.
Zespri Gold, a gold coloured kiwifruit, was a product of the existing breeding programme and was currently worth over $468 million in global revenues annually.
The research programme would target development of new varieties differentiated by their appearance, sensory or health attributes.
Mr Jager said it was realistic to expect that within the seven year investment period, one outstanding cultivar would emerge and sales of it were forecast to hit $300 million.
