[31 July/Radio NZ]

MyFarm has launched a $17.64 investment offer to fund New Zealand’s largest hop orchard, the Tapawera Hop Garden Limited Partnership. It included the purchase of a 96 hectare property and lease of a 50 hectare property that would be developed into a hop garden. MyFarm CEO, Andrew Watters, said half the garden would be planted this spring. He added the offer included a $3 million stake in new hop exporter Hop Revolution Limited. It would manage the garden and market the hops offshore. Hop Revolution Chair, John Loughlin, noted he thought the company could add considerable value to the way New Zealand hops were marketed internationally. He said they were aiming to create brand value for growers. Mr Loughlin added spray-free aroma hops were highly sought after. Mr Watters was pleased at the level of interest from New Zealand investors. New Zealand had about 600 canopy hectares of hop gardens.