Dear Waterfind subscriber,
Waterfind has today publically released our 2007-08 Annual Water Market Report. As a part of Waterfind’s dedication to providing an integrated water brokerage service, we strive to provide our clients with the most up to date and comprehensive information about the Australian water market.
The report provides information on the state of our National water resources, major policy announcements and trading activity for the 2007-08 irrigation season, and provides some analysis on how these factors impacted the water market throughout the season.
Key findings of the report include:
1. Major northern water storages above the NSW–QLD border line were not adversely affected by the current drought conditions being experienced in Australia, holding on average 90% of their capacity compared to 20% on average for major southern storages.
2. The largest volume of water stored in Australia was in Lake Argyle in Western Australia, with over 10 million ML of actual water storage, more than the other 9 largest water storages in Australia combined.
3. The price of water in Australia’s largest water markets in the Southern Murray Darling regions experienced extreme volatility during the 07-08 season, peaking at $1200 per ML in November 2007 only to drop to below $300 per ML in February 2008. This was influenced by water resource availability and major policy/allocation announcements during the season.
4. Early observations indicate that water market activity in the 2008-09 season has been lower than in 2007-08, with prices being recorded at up to 50% less than the same period last year. This has been attributed to grower concerns about last season’s record high prices and current uncertainty of water resource availability.
To view the full 2007-08 Annual Water Market Report, visit www.waterfind.com.au/water-report-signup.html.
Waterfind Pty Ltd
NATIONAL WATER BROKERS