Agriculture directly accounts for around 5% of GDP, processing of primary food products accounts for a further 2.9%.
The Government does not know the amount of land currently in overseas ownership.
The top five pieces of agricultural land approved for sale by the OIO in the past five years:
- Securities in 26,131 hectares of land in Otago were approved on January
29 last year for sale to Israeli billionaire Shmuel Meitar.
- Assets on 14,595 hectares of land in Canterbury were approved on
July 25, 2008, for sale to a UK interest through Ryton Station Ltd.
- Securities in 14,058 hectares of land in Canterbury were approved on
August 17, 2006, for sale to an Italian company through Reda International.
- Securities in 14,014 hectares of land in the Selwyn District were approved
on February 11 this year for sale to a confidential United States investor.
- Assets on 10,654 hectares of Canterbury land were approved in November 2008 for sale to a UK interest.