THE Federal Government looks unlikely to make any changes to Australia's foreign investment policy.

This is despite a string of recent agricultural land purchases by international investors and growing concern about Australia's food security.

TELL US WHAT YOU THINK
• Have Your Say in the form below
  

A report by the Australian Bureau of Agricultural and Resource Economics and Sciences into foreign investment in Australian land and agribusiness has been completed and is being evaluated by the Federal Government.

The report is the final part of the Government's foreign investment review which began in November 2010 in response to public outcry about lax foreign investment policy.

Agriculture Minister Joe Ludwig would not comment on the content of the report or when it would be publicly released but The Weekly Times understands it flags foreign ownership levels as being low.

"The Government has received the ABARES report and will release its response in due course," Mr Ludwig said.

"Australia has not sold the farm and there is no risk to Australia's food security.

"Foreign investment has helped build Australia's economy and will continue to enhance the well-being of Australians by supporting economic growth and prosperity.

"This investment is also integral to the success of our agriculture industry."

But an analysis of recent sales by The Weekly Times indicates more than $12 billion in Australian farm and and agribusiness has been snapped up by foreign buyers since the Federal Government announced the review.

Data from the Australian Bureau of Statistics Land and Water Ownership survey last year showed 99 per cent of agricultural businesses in Australia are entirely Australian-owned, 89 per cent of agricultural land is entirely Australian-owned and 91 per cent of agricultural water entitlements are entirely Australian-owned.

However, the survey was sent to only 10,000 agribusinesses across Australia and has been criticised for its small size and voluntary nature.

A mostly Coalition-driven Senate inquiry has called for a stricter policy on foreign investment in Australia and for the establishment of a register to track purchases.

Foreign land and agribusiness purchases are not tracked and potential foreign investors do not have to seek permission to buy land for less than $231 million.