Significant Chinese investment in dairy – report

Significant Chinese investment in dairy – report

A new report has revealed a land area bigger than size of the Auckland super city has been sold to offshore buyers in the past five years.

But the latest KPMG report also reveals a big increase in dairy investment from China.

Lochinver Station is one of the country's biggest and most valuable farms, and a long-awaited Government decision on whether it can be sold to a Chinese buyer is imminent.

If allowed, it will add to a long list of farmland heading offshore, although Prime Minister John Key denies too much land is being sold.

The report on overseas investment has found in the past five years 547,000 hectares of productive land, for use such as forestry and dairy, has been sold to overseas interests.

That's equal to 5 percent of New Zealand's productive land sold to offshore owners.

The report also found 30 percent of total agribusiness investment, such as dairy, forestry and wine came from China, and 19 percent from Hong Kong.

In fact, 60 percent of all agribusiness investment is from Asia.

Mr Key knows the majority of the public are against big farms being sold offshore. That is one reason why the Lochinver decision, which was debated at length during the election, has been held up.

But 3 News understands a decision could finally be released within weeks.

3 News