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Summer crops to benefit from October allocation increases
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Yesterday’s water allocation increases have delivered positive news for southern Murray-Darling Basin growers, who now have access to an additional 251 gigalitres of water.
Murrumbidgee and Murray Valleys general security allocations increased 4% and 5%, respectively, making an additional 86GL of water available.
Goulburn-Murray Water announced increases in the Murray and Goulburn systems to 37% and 33% of high reliability water shares.
The total volume now allocated to Murray and Goulburn high reliability users is 723GL, which is an increase of 119GL (allocations in the Broken, Campaspe, Loddon and Bullarook systems remained unchanged at 0%).
South Australian River Murray allocations increased to 34%, an increase of 9%, which results in an additional 46GL of water being made available to licence holders.
National water broker Waterfind says there was an initial increase in market activity together with a slight drop in prices following the announcements, with trades now occurring for around the $200/mL mark.
He says that southern Murray-Darling Basin growers have access to 513GL more water compared to the same time last season.
“The increase in water availability together with the current price of temporary water will hopefully be enough to encourage some additional plantings this year,” he said.