Federated Farmers says it has confidence in the process that established the New Zealand economy would benefit more from the sale of the Crafar farms to a Chinese conglomerate rather than a domestic buyer.
On Friday, the Government approved the sale of the 16 North Island farms to the Shanghai Pengxin group on the recommendation of the Overseas Investment Office.
Federated Farmers president Bruce Wills says he's pleased the sale has been resolved as it will give certainty to other foreign companies looking to invest in New Zealand.
Mr Wills says he has to trust that the OIO has gone through due process to ascertain the Chinese group offers more to the economy than a consortium led by Sir Michael Fay.
However, Mr Wills says Federated Farmers would have preferred the farms were sold individually to New Zealanders.
