The average Australian farmer has had it tough in recent decades. What scientists describe as a one-in-1,000-year drought has driven many off the land and, for those who remain, the long-term prospect of less rain because of climate change appears to herald a decidedly gloomy future.
Enter China. Just as the insatiable Chinese demand for Australia's vast reserves of iron ore, coal and other minerals has proved a godsend for mining companies and their employees and contractors, is it now the turn of Australia's farmers to be similarly enriched?
According to a report on April 29, in the Beijing Morning Post, a senior official in the Agriculture Ministry, Xie Guoli, says China is looking at leasing farmland in Russia, South America and Australia to ensure the nation has a greater chance of long-term food security.
Just how dire is China's agricultural crisis was made clear by a story last month from the news agency Reuters. It said that China's rapidly dwindling agricultural land is reducing its capacity to produce enough grain to feed its population.
What is also driving the looming crisis is changing taste buds. As people become wealthier, they are eating more dairy and meat products - both of which Australia produces in vast quantities and already exports to China.
So, how realistic is Beijing in thinking that it might be able to replicate the strategy it has adopted in the Australian resources sector of investing directly in projects? Over the next few years, can the Australian farming sector expect to see Chinese agricultural companies on their doorstep asking to buy or lease millions of hectares of farmland to produce meat, grain and dairy products that will be exported back to China?