Sir Michael Fay led bid for the former CraFarm's

Federated Farmers has welcomed a Sir Michael Fay led group upping its bid for the 16 former CraFarms, as being the best opportunity to keep these farms in New Zealand hands. Yet Federated Farmers also believes that the application by China’s Shanghai Pengxin Group, must complete the Overseas Investment Office (OIO) process without bias.

“As a Kiwi would I like these farms to remain in Kiwi ownership? You bet I would,” says Robin Barkla, Federated Farmers Dairy Vice-President who farms in the Bay of Plenty.

“As our immediate past national dairy chair said earlier in the year, ‘one day, someone’s going to make a mini series out of this.’ The dealings around these farms you couldn’t have dreamt up.

“While my heart says one thing my head says that because there’s a live OIO application, we need to let it go through all the necessary hoops.

“The OIO process must be clean for if there’s any hint of favouritism or bias, then we risk becoming a South Seas Venezuela. Anything like that would spook international investors and dangerously drive up interest rates.

“That said, Sir Michael Fay is doing exactly what Federated Farmers has called for. Assembling a group of Kiwi investors to make a sizeable but credible bid for these farms.

“It certainly provides the receiver with a great option should the Pengxin Group bid fall over,” Mr Barkla concluded.