Ms Lohrisch, who leads the Queensland-based law firm's Food and Agribusiness Group, said Australia's agricultural sector was also well placed to benefit from the world food crisis, which had stimulated demand for productivity boosting specialist equipment and farming techniques.

"Australian farmers are some of the most efficient in the world and have the intellectual property know-how that is badly needed to boost global supply," Ms Lohrisch said.

"Despite a continued world food crisis that has seen food stocks at their lowest level in over 30 years, the global financial crisis has crimped the investment spending needed to increase production.

"But expert forecasters now see a turnaround in areas such as biofuels due to the impending change in US government policy."

Ms Lohrisch pointed to a recent report from US biotechnology forecaster Steven Burrill, which predicts record investment in "clean technology" (alternative energy) companies due to US President Barack Obama's support for solar power, wind power and next-generation biofuels.

The report also sees increased investment and funding for the agricultural and animal health sector in response to the food crisis.

According to research by US industry organisation Cleantech Group, alternative energy firms are already reporting an influx of new business in the wake of the expected changes.

In 2008, $US8.4 billion was invested in the sector, up 40pc on the previous year.

"Australian agribusiness companies will have opportunities in a range of areas, including investment by groups seeking to secure food sources, IT exports, GM (genetically modified) crops, farm processes and machinery," Ms Lohrisch said.

"Increasing growth in higher value agricultural products, particularly in industrialising countries such as China and India, will lead to growing demand for quality Australian products, regardless of cyclical changes in business conditions.

"We are calling on Australian firms to increase investment in value-adding so as to position themselves for the next upswing in global demand – and for the new, Obama-led revolution in alternative energy sources."