TONY RYALL VISITS GOVERNMENT'S FARMER -- LANDCORP

State Owned Enterprises Minister Tony Ryall met with the chair and chief executive of Landcorp, the Government's farming company, in Wellington today.

Taxpayer owned Landcorp is the largest farmer in New Zealand running approximately 1.5 million stock units on close to 400,000 hectares. The company's total assets are worth around $500 million.

Agriculture is the backbone of New Zealand's export effort. Landcorp is part of the evolutionary process of the Government's role in farming,' Mr Ryall said.

At the turn of the century the Crown was an active participant in opening up and developing land for farming. These days we leave that to farming families.

Landcorp has successfully minimised the effects of El Nino drought conditions on its stock despite a number of its farms being in the driest areas.

That was possible because Landcorp is not just a collection of farms but a completely integrated farming business that manages its stock well, has loyal and hard working staff, and is innovative in the farming sector.'
Landcorp operates two subsidiaries: Landcorp Farming Ltd that farms lamb, sheep, beef and dairy cattle, and deer and goats; and Landcorp Investments Ltd that leases land and holds loans.

Landcorp Farming is converting some of its business towards dairy farming and deer to offset low international beef and sheep prices.

Landcorp Investments is currently selling some of its properties though this is subject to the Treaty of Waitangi settlement process.