28 Jan 2011

Farmers want benefits of overseas investment monitored

4:59 pm on 28 January 2011

Federated Farmers wants the Government to monitor overseas farm purchases to ensure New Zealand benefits from the investments.

A Shanghai-based company has made a new offer for 16 North Island Crafar farms in receivership, after an earlier offer from another Chinese investor failed to gain regulatory approval.

Pengxin International Group says its offer will bring substantial benefits and New Zealand companies could forge new links in China because of its connections there.

But Federated Farmers says that claim needs to be tested.

Dairy chairman Lachlan McKenzie says the Government needs to make sure the benefits are delivered as promised if the sale is approved.

He also says Federated Farmers would prefer to see the farms offered for sale as individual units.