Calls to ban sale of NZ farms to overseas buyers
Waikato University’s agribusiness professor Jacqueline Rowarth says the outlook for dairy farmers is not good.
Federated Farmers figures show more than 1 in 10 dairy farmers are facing pressure from banks over mortgages - double the number feeling heat 6 months ago.
Ms Rowarth says the forecast milk price only covers 60 percent of the farmer’s costs.
She warns that because other countries have access to cheaper money, they are coming into NZ and picking off the best farms.
“The OCR needs cutting now.”
Watch the video to see the full interview.