The announcement included $20 million over five years to fund research on eradicating pests like wild dogs and feral pigs, which cost farmers hundreds of thousands of dollars each year.

If re-elected, the Coalition would also commit $8.3 million dollars to improve animal welfare in the live export industry, a pledge that comes just days after the release of disturbing footage of the brutal slaughtering of what appear to be Australian cattle in Vietnamese abattoirs.

But the centrepiece of the Coalition’s agriculture policy is a previously announced $2 billion water infrastructure loans fund and a Regional Investment Corporation (RIC), that would be regulated like a bank and administer drought and dairy concessional loans, removing that responsibility from the states.

While not identifying any expenditure totals, the Coalition policy also outlines plans for the department of agriculture to work with the Clean Energy Finance Corporation to identify projects suitable for investment, like 

abattoirs, sugar mills and dairy processors, in areas like micro hydro-power generation or on-farm renewables.

Earlier last week Mr Joyce said the RIC would fast-track the delivery of $4.5 billion in drought and water infrastructure loans, in line with a commitment to streamline federal financing and concessional loan processing and ensure new dams could be financed quickly and drought loans for farmers approved in a shorter timeframe. 

Yesterday, he emphasised the value of the farming sector was reflected in the fact Australian farmers contributed about $51 billion to the nation’s economy, including $41 billion in agricultural exports.

“A stronger agricultural sector not only benefits regional Australia, but boosts the economy, creates more jobs and drives exports,” Mr Joyce said.