Irrigators in the southern Murray-Darling Basin can look forward to lower water prices over the next 12 months.
Irrigators in the southern Murray-Darling Basin can look forward to lower water prices over the next 12 months and perhaps even the following year after opening the season with higher allocations, fuller dams and an above-average rainfall outlook.
Although large crops were planted – such was the water availability in 2021-22, arguably the best conditions for the last three decades – allocation prices came close to zero late in the season. The average price for allocations across the southern Murray-Darling Basin was $71 a megalitre last year. “If this happens, and we get another wet summer, allocation prices could stay low. If we get a more typical summer, allocation prices could hold steady or increase modestly from current levels, before decreasing towards the end of the year,” the Aither report noted.– have nevertheless held firm, as a result of long-term interest in such assets and a lack of willing sellers.
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