Deputy Prime Minister Barnaby Joyce has called on his Labor counterpart Joel Fitzgibbon to work with him to develop a dairy industry support package to help struggling dairy farmers.
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After a three-day visit to Victoria during which he spoke to many dairy farmers, Mr Joyce issued a statement saying that caretaker provisions prevented him from acting unilaterally, and he was therefore "unable to announce further support measures at this time".
He also said: "It is my intention to consult with the Opposition on the support package within days. I ask my Opposition counterpart to work quickly with me in a bipartisan way to finalise the support package."
While in Victoria this week, Mr Joyce urged dairy farmers to stay on the land, and said that the Australian dairy industry had a sound future.
On Wednesday he said he would ask for a change in eligibility criteria for drought recovery loans which come at low interest rates, so that dairy farmers hit by plummeting payments could get access to this money.
Mr Joyce said more than half of Australia's 6100 dairy farmers would be directly affected by the recent decisions of processors Murray Goulburn and Fonterra to slash farmgate milk prices paid to farmers for their milk. Murray Goulburn is Australia's biggest dairy processor, while Fonterra is the world's biggest dairy exporter.
Estimates of the financial impact on farmers of the price cuts have varied widely, but many farmers are expected to experience a fall in revenue of well in excess of $100,000 over the next twelve months.
"The Coalition Government values the contribution Australia's dairy farmers make to our communities, underpinning regional economies and supplying high quality food products. They deserve all our support," Mr Joyce said.
