The European debt crisis and weak euro is exacerbating the plight of New Zealand's apple growers, who are struggling with losses after three years of poor returns, reports www.stuff.co.nz.
The lion's share of apples grown in major pipfruit region Nelson are exported to Europe, where the euro and pound sterling are currently very low against the New Zealand dollar, it said.
Many of the region's growers are already struggling with huge debt and little equity after three years of poor market returns.
The Rural Support Trust has been called in to help Nelson apple growers by organising financial advice and welfare assistance, the article said.
"The trust is not there to necessarily save them – we've got no money to re-finance – but what we can do is to help them talk to their financial adviser or alternatively exit the industry with some dignity," a trust representative told the website.
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