New Zealand's only tea farm is back on the boil.

China's Covid lockdowns are impacting on New Zealand agriculture, according to Rabobank.

Some 300 farmers around the country - supplying 12,000 dairy cattle for export to China have been left hundreds of thousands of dollars out of pocket due to the non-arrival of a live export ship.

Recent data released by the Real Estate Institute of New Zealand (REINZ) showed a drop in farm sales for the three months ended March 2022 compared to the same period last year.

There were 36 fewer farm sales for the three months ended February 2022 than for the same period in 2021, according to data released by the Real Estate Institute of New Zealand (REINZ).

The country's second largest milk processor is paying farmer suppliers a record milk price of $10.06/kgMS this month.

Manufacturing options and scale are allowing Fonterra to maximise returns for farmers' milk, says chief financial officer Marc Rivers.

European co-operative Arla Food reported a solid performance in 2021 despite continued disruptions from the pandemic and high inflation.

Farm sales are easing and farmers may be holding onto land to cash in on high commodity prices.

Fonterra has dropped its 2021-22 New Zealand forecast milk collection by 1.6% due to weather constraints.