State-owned farm company Landcorp has met again to decide whether to bid for 16 farms from the Crafar empire being sold by receivers.

Interested parties have until 4pm on Wednesday to bid for the farms, which are thought to be worth up to $200m.

Landcorp chief executive Chris Kelly says the company has the means to take on the Crafar farms, but must decide if it wants to.

“We certainly could manage it, it’s really up to the board to decide whether the offer we’re proposing is appropriate, whether we should even offer at all.

"They will assess the benefits and weigh them up, based purely on commercial grounds and make a decision accordingly.”

Mr Kelly says the company will wait until Wednesday before placing any bid.