The number of dairy farm sales has plummeted over the last two years, despite firm farmgate milk prices, REINZ said.
REINZ also said the median price per hectare for dairy farms has fallen by 22.1 per cent over the past 12 months.
The institute’s rural spokesman Brian Peacocke said sales data for the three months ending in November confirmed a slight increase in farm volumes compared to the recent October period, but there was a significant reduction in volumes for the same period in 2018 – (down 16 per cent) and in 2017 (down 11 per cent).
The standout was the dairy category, which was down 55 per cent on the equivalent period in 2018, and down 83 per cent on the 2017 figures.
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