Investment by venture capital and private equity firms in the agriculture sector has dropped significantly in the first quarter from a year ago, mainly due to the sluggish overall market and the current suspension of initial public offerings that make it difficult to cash out investments, according to a report released by ChinaVenture Group Wednesday.

Five deals were recorded in the agriculture sector in the first three months, down 55 percent from a year earlier, with total investment of $70.76 million, the report said.