LIC semen probe results to be made public
The result of two probes into the supply of bad sire semen to over 1100 LIC farmer customers will be made public next month.
The Government has approved the sale of Crafar Farms to Chinese company Shanghai Pengxin.
Land Information Minister Maurice Williamson and Associate Finance Minister Jonathan Coleman approved the sale of new recommendation of the Overseas Investment Office (OIO). It grants Shanghai Pengxin subsidiary Milk New Zealand Holding Limited to acquire the 16 Crafar farms.
"New Zealand has a transparent set of laws and regulations around overseas investment," Williamson says.
"Those rules recognise the benefits that appropriate overseas investment can bring, while providing a range of safeguards to protect New Zealanders' interests. They are applied evenly to all applications, regardless of where they are from.
"We have sought to apply the law in accordance with the provisions of the Overseas Investment Act and the guidance of the High Court.
"We have carefully considered the OIO's new recommendation. The OIO sought advice from Crown Law and independent legal advice from David Goddard QC. The Ministers also sought advice and clarification from Mr Goddard.
"We are satisfied that on even the most conservative approach this application meets the criteria set out in the Act and is consistent with the High Court's judgment."
Coleman says the consent comes with stringent conditions.
"These 27 conditions have been imposed to ensure Milk New Zealand's investment delivers substantial and identifiable benefits to New Zealand," Coleman says.
The conditions require Milk New Zealand to invest $16 million into the farms and to protect and enhance heritage sites.
"The combined effect of the benefits being delivered to New Zealand as a result of this transaction is substantial."
New Zealand dairy processors are welcoming the Government’s commitment to continuing to push for Canada to honour its trade commitments.
An educational programme, set up by Beef + Land New Zealand, to connect farmers virtually with primary and intermediate school students has reported the successful completion of its second year.
The Food and Agriculture Organisation of the United Nations (FAO) has welcomed a resolution adopted by the United Nations (UN) General Assembly to declare 2026 International Year of the Woman Farmer.
Waikato herd health veterinarian Katrina Roberts is the 2024 Fonterra Dairy Woman of the Year.
Trade Minister Todd McClay says New Zealand has no intention of backing down in a trade dispute with Canada over dairy products.
Horticulture NZ chief executive Nadine Tunley will step down in August.
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