The sale of four sheep and beef farms in New Zealand to overseas investors, who will turn about 7100 hectares into rotational forests, has been approved. The Overseas Investment Office (OIO) issued these decisions made under the special forest test. Source: RNZ
Introduced in 2018, the test was designed to support the government’s forestry priorities, including more tree planting.
Farming groups have raised concerns too much productive farmland is being lost to trees.
Furniture store IKEA’s parent company Ingka Investments is continuing to buy land to plant trees with its latest purchase,the Huiarua and Matanui Stations in the Gisborne region with a combined area of just over 6000 hectares.
Nearly 5000 hectares of the sheep and beef breeding operations will be converted into radiata pine forests. The sale of four sheep and beef farms to overseas investors, who will turn about 7100 hectares into rotational forests, has been approved.
The Overseas Investment Office (OIO) has issued its latest decisions made under the special forest test.
Introduced in 2018, the test was designed to support the government’s forestry priorities, including more tree planting.
Farming groups have raised concerns too much productive farmland is being lost to trees.
Furniture store IKEA’s parent company Ingka Investments is continuing to buy land to plant trees with its latest purchase, the Huiarua and Matanui Stations in the Gisborne region with a combined area of just over 6000 hectares.
Nearly 5000 hectares of the sheep and beef breeding operations will be converted into radiata pine forests.
