NFF President Hamish McIntyre said the announcement of a A$10 billion (US$6.5 billion) Australian Fuel Security and Resilience package was a step toward strengthening the sovereign capability needed to protect the country's food system.
According to McIntyre, the package will establish a fuel and fertiliser security facility, create a government-owned fuel security reserve, and increase the Minimum Stockholding Obligation by 10 days.
© Ed Francissen | Dreamstime
He said the measures would improve Australia's liquid fuel and fertiliser security.
McIntyre noted that the Prime Minister had stated the fuel reserve would focus on regional stockouts and supply constraints affecting essential users, which he described as important for farmers and fishers.
He also welcomed the inclusion of government-backed loans, equity, guarantees, insurance, and price support measures for fertiliser supply and storage.
According to McIntyre, reliable and affordable fuel and fertiliser are necessary across all stages of food production, while recent events have highlighted Australia's exposure to global disruptions.
He added that the NFF would continue working with the Government to ensure the measures support producers and maintain food and fibre supply chains.
For more information:
National Farmers' Federation
Tel: +61 (0) 2 6269 5666
Email: [email protected]
www.nff.org
