State farmer forecasts record results
The Government’s directive for state farmer Landcorp Farming (trading as Pamu) to lifts its performance is yielding results.
A programme of improvements on the Crafar farms will begin as soon Chinese company Shanghai Pengxin can settle on the properties.
The company says it is pleased with the Court of Appeal ruling in its favour and, with Landcorp, looks forward to beginning the improvements.
Shanghai Pengxin says the farms will be bought in the name of its subsidiary Milk New Zealand Holding Ltd and run by Milk New Zealand Farm Management Ltd, a joint venture with Landcorp Farming Ltd, which will honour all current arrangements made by the receiver with sharemilkers and staff.
"Our immediate priority is to begin the process of improving the farms, increasing production, and making sure we comply with all of the conditions imposed by the Overseas Investment Office," says a statement issued by Shanghai-Pengxin.
"We look forward to becoming part of our local communities and we will set up a local team to explore opportunities to add value to New Zealand milk through further processing by New Zealand companies and the sale of high-value dairy based products to China under the Pure 100 and Nature Pure brands."
Shanghai Pengxin thanked the many individual Kiwis and organisations who welcomed, encouraged and worked with them to help make their vision a reality.
"We believe there will be strong benefits to New Zealand as a result of us proceeding with our business plans, and we look forward to making a contribution to New Zealand's dairy industry and strengthening the relationship between our countries," it says.
"We will make further announcements in due course."
Two butcheries have claimed victory at the 100% New Zealand Bacon & Ham Awards for 2025.
A Taupiri farming company has been convicted and fined $52,500 in the Hamilton District Court for the unlawful discharge of dairy effluent into the environment.
The Climate Change Commission’s 2025 emissions reduction monitoring report reveals steady progress on the reduction of New Zealand’s climate pollution.
Another milestone has been reached in the fight against Mycoplasma bovis with the compensation assistance service being wound up after helping more than 1300 farmers.
The Government’s directive for state farmer Landcorp Farming (trading as Pamu) to lifts its performance is yielding results.
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