water markets

On the boil: Water prices surge 20% this month on back of dry outlook

25 July 2018

Peter Hunt, The Weekly Times
25 July 2018

TEMPORARY water prices have surged 20 per cent in a month, reaching $280-$290 a megalitre at Elders’ first auction for the 2018-19 season in Deniliquin last week.

Elders broker Matthew Horne said demand came from a wide variety of farm sectors — cotton, livestock, horticulture and corporate.

“Demand from prime lamb and wool operations was particularly strong, driven by the exceptionally high market conditions,” Mr Horne said.

One 800ML parcel of ­temporary water was snapped up by a potato grower for $290/ML, while a beef producer paid $284 for another 200ML. A Berrigan dairy ­farmer also paid $285/ML for 1600ML, plus $275/ML for another 400ML of Murray zone temporary water.

Read full article here.