by Rupert Pye
Highcountry farm land – up for sale to anyone
Foreign direct investment -i.e. ownership of companies – in New Zealand increased from $15.7 billion in march 1989 to $171 billion at March 2024 – nearly eleven times.
In 2024 the Overseas Investment Office approved new foreign investment totally $7.5 billion, a significant drop from the $18.5 billion in 2023 – which goes to show a Labour-led government is just as guilty of flogging off New Zealand as is the current National led coalition government.
These figures are from the latest edition of Watchdog”, the bulletin produced by Campaign Against Foreign Control of Aotearoa (CAFCA).
Forestry is to the fore in recent foreign acquisitions.
“Watchdog” lists the February 2025 decisions by the Overseas Investment Office.
For instance Tukurua Forest Limited in Ottawa, Northland, has been sold to Kauri Forest LP for $9.2 million with Swiss (71%) and German (29%) investors through the Craigmore Sustainable Group.
“Watchdog” comments “though this deal involves no land use change, it reflects the on-going offshore aggregation of New Zealand’s forestry estate and raises policy questions about long term control and transparency.”
“This is part of a wave of overseas acquisitions tied to carbon farming under the Emissions Trading Scheme.”
Vandalism
CAFCA has labelled the trend “economic and ecological vandalism – locking land into monoculture pine and driving out rural communities.”
Meanwhile down south Ingka Investments BV (Netherlands 100%), an investment arm of the IKEA franchise group, has acquired 812 hectares of farmland in the Clutha district with 657 ha of former beef and sheep farm to be converted to forestry.
In Hawkes Bay Craigmore-linked Kauri Forestry LP has been given the green light to acquire from Waipuna NZ Ltd, 1518 ha. of sheep and beef farmland in Elsthorpe, Hawkes Bay with over half of the productive farm and to go into pinus radiata.
Outdoor Access
CAFCA says this and similar acquisitions by Craigmore such as 804 ha in Central Hawkes Bay are part of the “quiet transformation of farmland into carbon forestry estates – concerns persist over the reduction of local food production and limited public consultation —-and land access and democratic oversight—-.”
Also in the same regional area the UK Carbon Fund has acquired 1446 ha of forest land across Waipukurau, Pongoroa and Eketahuna.
Kauri forestry LP pops up again at Kaipara where it has bought 496 ha of sheep and beef farmland from Maungarata Trust 100% NZ owned, with 300 ha to go into pinus radiata.
ERI Timber NZ Sari has acquired 794 ha from 100% NZ ownership in West Cork Forestry Ltd.
And so the list goes on.
Fast Track Operating
CAFCA has criticised the dominance of pinus radiata monocultures for “limited biodiversity and ecological impact”.
In a number of foreign acquisitions the special forestry test—may be seen as a fast track mechanism that emits broader public scrutiny.”
In 2024 the OIO approved the sale of 1249,000 ha of freehold land to foreigners.
The average for the decade 2015-2024 was just over 141,000 ha, with National led and Labour led governments involved.
CAFCA do a grand job of exposing the sell-off of NZ’s land and economy. Government’s boast and call for more foreign investment. Kiwis are becoming peasant workers in their own country. Wake up. Join CAFCA. Get involved.
My understanding is the forest industry is 90% foreign owned, i.e. not just land but companies too. I fully agree with CAFCA.
Why would these foreign groups care about ecological vandalism in New Zealand? Have you seen what they do in their own countries in pursuit of the mighty dollar?
I fully support CAFCA though I would much prefer it called Campaign Against Foreign Control of New Zealand.
I suppose the foreign buyers and their attendant forestry wreckers are significant donors to our political incumbents?
Foreign purchases of New Zealand farms drive up land prices, beyond the reach of New Zealanders, especially young farmers, wanting to buy a farm. The Ardern government made it easier for foreign speculators to come to NZ to invest in the ridiculous carbon farming rort.
Now the National-led coalition crowd are relaxing rules around foreigners buying up NZ land. Stupid thing is many-most?- countries ban foreigners buying land.
The big sell-off is happening.
Kiwis are ‘serfs in our own land’.