Heightened scrutiny of foreign-owned Australian farmland is the latest policy announcement from the Australian Greens, who claim current measures are failing the national interest.
The Foreign Investment Review Board (FIRB) is inadequately tracking the offshore ownership of more than 45 million hectares of prime agricultural land and countless farms and water licences, party leader Christine Milne said in Brisbane on Saturday.
"With climate change driving the collapse of crops, the food security issue is expected to worsen over the next few years such that food will become the new oil, dominating geopolitical considerations," Senator Milne said.
"Keeping control of our prime agricultural land (and) water resources is critical to maximise our own resilience and provide exports to the global market."
She said Australia was trailing other countries including the US, New Zealand, Argentina, China and Brazil when it comes to imposing greater restrictions on the foreign purchase of agricultural assets.
"At the moment, a foreign investor can make purchases of up to $248 million before they are subject to scrutiny by FIRB."
It is the second time the Greens have moved to step up FIRB regulation.
In 2010 the party introduced a bill to change the guidelines for foreign acquisition of agricultural land, but it was not supported by Labor or the coalition.
Senator Milne's policy announcement coincided with an a promise to crackdown on gambling in sport by party colleague Richard Di Natale.
The four-plank approach proposes: a ban on gambling sponsorship of sports teams; a ban on all gambling ads before 9pm; a ban on all odds during sport and sports-related programs; and a ban on gambling ads being integrated into broadcasts.
Meanwhile in Melbourne deputy Greens leader Adam Bandt was joined by retired party boss Bob Brown, who denied the campaign would be doing better with him at the helm.
"Christine is doing a fantastic job as leader ... and the Greens are going up in the polls because they have got the courage to do the right thing by refugees, by the economy and job creation, and by the environment," Mr Brown said.
