Water Trading Report Keeps Farmers Informed

Victorian irrigators can stay up to date with current trends in water trading across the state with the release of the 2015-16 Victorian Water Trading Annual Report.

Now available on the Victorian Water Register website, the report provides detailed information about the price of water, volume and the number of trades across the grid.

Market transparency is a key focus of Water for Victoria – the state water plan released last week – which looks to strengthen market tools so customers can make more informed decisions to support families and businesses.

The Andrews Labor Government will continue to refine the trading rules in irrigation areas to enable more efficient trade.

The trading report shows a total of 2,737GL of allocation was traded in Victoria during 2015-16 – a volume equivalent to over five Sydney Harbours or in excess of one million Olympic-sized swimming pools.

The report reveals:

  • Most water was traded in northern Victoria (2,702GL), with small amounts in southern Victoria (31GL) and western Victoria (4GL)
  • A total of 565GL was traded into the Goulburn-Murray Irrigation District, and 301GL traded out. The Lower Murray region saw 322GL traded in, and 79GL traded out
  • A total of 294GL was traded into northern Victoria from interstate and 71GL was traded out, excluding trade between environmental accounts. Net trade for the area was 223GL.

Record volumes of interstate trade into Victoria largely reflects the high value of Victorian agricultural production.

The high volumes traded in the state’s north reflect the region’s recent hot, dry conditions and the moderate volumes of allocation available.

The report also shows that in northern Victoria water market prices increased in 2015-16, compared to previous years, given the drying conditions. In 2016-17 allocation prices have fallen again in response to wetter seasonal conditions.

You can access the report at http://waterregister.vic.gov.au/water-trading/trade-reports

Quotes attributable to the Minister for Water Lisa Neville

“Victorian farmers, families and businesses need access to an open and transparent water market – which is a key focus of the state water plan.”

“This water trading report provides useful information about how much water is moving across the grid and at what price.”

“Irrigators can use it to make better decisions and plan for future challenges around climate change.”