More New Zealand farmland is being sold for forestry conversion. Photo: RNZApproval has been granted for the sale of several sheep and beef farms to overseas investors, who will turn about 7100 hectares into rotational forests. Nearly 5000 hectares of the sheep and beef breeding operations will be converted into radiata pine forests. New rules changing the assessment criteria for overseas investments that result in the conversion of farmland to production forestry came into force last month, the OIO said. Consent applications for farm-to-forestry conversions are now considered under the general benefit to New Zealand test, rather than the more permissive special forestry test.

Source: Otago Daily Times September 01, 2022 03:27 UTC