Water prices unlikely to reach Millennium drought peaks

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Murray-Darling Basin irrigators will continue to face soaring water prices but new research shows they are unlikely to cop peak costs seen during the Millennium Drought.

The federal government's agricultural forecaster released its water market outlook at its annual conference in Canberra on Wednesday.

The outlook provides a range of possible allocation prices for 2019/20 under dry, average, and wet conditions. "There is a risk that prices in the Murrumbidgee could increase even more than that next year, with the Murrumbidgee import limit estimated to remain in force, unless conditions improve in NSW," he said.

 

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