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12/12/2008

Water trade price report

The average price of temporary water across the southern Murray-Darling Basin* during November was $365 per megalitre, a far cry from the $807 per megalitre average recorded in November last year.

Waterfind’s monthly trade price report has revealed that a total of 121 gigalitres of temporary water was transferred between licences during November, which is 40% less than the volume traded in the previous month.

Trading activity is tipped to increase over the summer period as irrigators assess their requirements for the remainder of the season and begin thinking about their capacity to carry-over water into next season.

“Once carry-over rules have been finalised, we may see an increase in trading activity and most likely some associated movement in price” says Waterfind CEO Tom Rooney.

Particularly in comparison to last season, current market conditions are providing irrigators with more affordable water purchasing opportunities.

Irrigators who are seeking assistance in purchasing water over the summer period are encouraged to contact Waterfind on 1800 890 285.

Download the Waterfind November Water Market Report – www.waterfind.com.au/docs/waterreport.pdf

*Southern Murray-Darling Basin includes NSW Murray, Murrumbidgee and Lower Darling, northern Victorian Murray connected systems and SA Murray.

Media contact: Penny Weir Marketing Coordinator E: M: 0417 874 764 T: 1800 890 285 I: www.waterfind.com.au

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