The NFF admitted many questions remained about the policy details and how it would be implemented, but farmers would be buoyed by the recognition of the positive role that they can play in reducing greenhouse gas concentrations and storing carbon.

"The NFF is encouraged that that the Coalition has committed to an incentive based scheme for farmers to drive abatement from their sector," NFF president David Crombie said.

"In addition, we are comforted by the Coalition’s commitment to no additional indirect costs to energy and energy related farm inputs, which can have a major impact on the profitability of our businesses and regional communities.

"The Coalition is also right to acknowledge the need to consider potential impacts on agriculture, ecosystems and water in providing incentives for forestry under their climate change policy.

"This is particularly the case as global food and fibre security continues to escalate as a major concern all over the world."

But the NFF wants clarification on any Coalition plans in support of additional research and development (R&D) in forming their agriculture carbon policy, saying more investment was needed.

Meanwhile, Senator Wong said Mr Abbott had continually claimed that the Government's Carbon Pollution Reduction Scheme would "increase Australian families’ bills by $1100 a year".

"As the Government has made clear on more than 10 occasions now, this figure is just plain wrong," she said.

"The figure of $1100 is almost double the actual impact and completely ignores the comprehensive cash assistance the Government will provide to nine out of 10 Australian households."

Sen. Wong said Treasury modelling found the Government’s Carbon Pollution Reduction Scheme would cause prices to rise by 1.1pc in 2013 – on average costing a household $624 a year.

She said that under the Carbon Pollution Reduction Scheme, more than 90pc of all households would receive assistance of around $660 of assistance in 2013.