LOCAL landholders have greeted with caution a landmark Federal Government decision to permanently exclude the farming industry from its controversial Emissions Trading Scheme (ETS).

In addition to the exclusion, landholders could create and sell carbon credits created by good soil management and forestry practices.

Whitton cotton farmer Roger Commins heralded the amendments as "fantastic news".

"That is just a great win and a great advantage for Australian farmers," he said.

"It was going to be a hideous tax on farming and the community would have worn the full brunt of that."

Mr Commins could well be a contender for sequestered carbon credits, having cultivated a 350-acre hardwood plantation over the past seven years

But on top of the farmer's wish list was more information regarding the scheme.