19 Oct 2012

Chinese deal beginning of the end - Crafar

3:14 pm on 19 October 2012

The former owner of the Crafar farms says a Supreme Court decision finally clearing the way for their sale marks the beginning of the end for New Zealand farming.

The Supreme Court has turned down an application by two Maori farming trusts for it to hear a further appeal against the sale to Chinese investor Shanghai Pengxin.

State-owned farming enterprise Landcorp will manage the farms in a joint venture with Shanghai Pengxin and is preparing to take over the properties in early December.

Allan Crafar has been unemployed since his family's 16 North Island farms were put into receivership in 2009.

He says the sale is deeply disappointing and will only lead to more foreign ownership of New Zealand farms.

"There's no incentive for New Zealanders to buy," he says.

"New Zealand families are being driven out of farming".

Mr Crafar thinks there might still be legal grounds to challenge the actions of the receivers but says he doesn't have the means to do that.