The Victorian Government’s annual water trading report has revealed that a total of 2,737GL of water was traded in Victoria in 2015-2016 – the equivalent of five Sydney Harbours or more than one million olympic-sized swimming pools.
The 2015-16 Victorian Water Trading Annual Report provides information about the price of water, volume and number of trades across the grid to help irrigators keep up to date with current trends in water trading.
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 found that in northern Victoria, water market prices increased in 2015-16, compared to previous years, given the drying conditions.
Since the beginning of 2016-17 allocation prices have fallen again in response to wetter seasonal conditions.
The report provides market transparency which is a key focus of the state government’s water plan, Water for Victoria, which looks to strengthen market tools so customers can make more informed decisions to support families and businesses.
Victorian Minister for Water, Lisa Neville, said, “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.”
