FARMERS want foreign companies buying more than $5 million worth of farmland to gain federal government approval.
In a resolution passed at the Victorian Farmers Federation conference last week they called for purchases of more than $5 million by overseas interests to be scrutinised by the Foreign Investment Review Board.
The board currently only reviews purchases of more than $244 million.
Federal Agriculture Minister Joe Ludwig told the conference Australian agriculture would struggle to compete globally, if not for the benefits that foreign investment brought.
And Victorian Premier Ted Baillieu also said foreign investment had "built" the state and urged caution about sending messages to deter new investors.
The conference also voted to:
CREATE a new water resources group.
CALL on governments to support young farmers into farm ownership through low interest loans and other measures.
CONDEMN research cuts, in particular the closure of state agricultural research facilities.
CALL on governments to prosecute animal activists who damage markets.
Meanwhile, the VFF has recorded an operating surplus of $220,000 to the nine months of its financial year.
