Taxpayer investments and the water market are making irrigation more efficient and reducing Murray-Darling's base flow. QJ Wang and Avril Horne explain what needs to happen next.
But this year, prices are so high that Aither director Chris Olszak believes many will be priced out of growing a crop. "We expect a big reduction in the cotton crop unless high inflows return to the Murrumbidgee before October," he wrote in a statement.permanent water entitlements give the owner an on-going right to extract water from the river, although the amount that can be extracted can change year-to-year as seasonal conditions change; andPrices for allocation water increased 140 per cent from $230 a megalitre in July last year to $550 a megalitre in July this year.
Aither, which maintains an index of permanent water entitlements, said it hit a record high of 224 entitlements in June, up 24 per cent from the previous year.The soaring value of water rights — from just under $16 billion to $22.7 billion in the 12 months to June 2019 — reflects the demand for water security., which overall is producing less annual crops like rice and cotton, and more permanent crops like nuts and citrus.
Growers of crops like almonds, citrus and table grapes around north-west Victoria will face the highest costs for irrigation water this summer.
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