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Water trade price report
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Temporary water trading across most regions in the southern Murray-Darling Basin* is now closed for the 2008–09 irrigation season.
In the final month of trading, the average price of temporary water was $349/ML, an increase of just 4% from the previous month.
National water trading company Waterfind says that the average price of water towards the end of season did not increase as steeply as it did in June last season.
Waterfind operations manager Mark Siebentritt said that between May and June 2008, the average price of temporary water increased by 21%. This was most likely driven by limited supply as licence holders searched for water to carryover or to top up accounts.
“Growers were well prepared for end of season trading this year, which has meant that there was minimal ‘last minute’ trading and therefore little change in price,” Siebentritt said.
Waterfind’s daily price monitoring has revealed that the average price of temporary water for the 2008–09 season was $346/ML, which is 45% less than the average price last season.
This season’s lower temporary water prices have come as a great relief to growers across the Basin who rely on the ability to buy or sell water in order to meet their overall business plans.
*Southern Murray-Darling includes NSW Murray, Murrumbidgee and Lower Darling, northern Victorian Murray connected systems and SA Murray.