Rural Funds Group will shift its investment focus over the next five years from cattle and almonds to macadamia nuts after it unveiled plans to invest $500 million to develop a 5000-hectare macadamia portfolio with an end value of about $1.5 billion.

The ambitious expansion effort will gradually convert 2200 hectares of Maryborough sugar cane farms (acquired earlier this month for $81 million) as well as portions of three Rockhampton cattle stations owned by the trust into macadamia orchards, and leased out.