Drop in water trading prices
Posted
Temporary water trading prices have dropped in spring because of increased supply interstate.
Water broker Waterfind says the average price for September was around $520 per megalitre.
Tom Rooney from Waterfind says there has been a steep drop to just under $400 per megalitre, which he attributes to recent increased allocations in Victoria and New South Wales.
Mr Rooney says an interstate rainfall boost has pushed down the trading prices to well below the $1,200 recorded at spring time last year.
"It was actually the supply increased, which meant that because there was more water available, and similar levels of demand, there's actually been slightly increased demand occurring now through the market place because of this very cheap water pricing, especially compared to last year," he said.
