On Monday, GM Water announced a marginal increase in allocations for the Goulburn and Murray systems. The Murray moved up from 19% to 21% and the Goulburn 14% to 18%. What effect will this have on the water price this season - very little as we are well below where we were last year. Prices seem to have flattened out at around $360 - $380 on the open market. Water Move's latest auction prices announced last week ranged from $360 to $400 depending on the market you were operating in. Other markets seem to be leveling out at around $370 off the $400 mark achieved earlier this month.
Our greeneye.com charting suggests $370 - $400 is potentially where the price will sit for a while. With the likelihood of little increase in allocations it could be an expensive time for irrigators right through to Autumn.
Good rain across the North East of Victoria is unlikely to impact on storages, however it will ease the short term ordering of water in some irrigation districts - saving water for later in the season.
What about South Australia and their goverment purchasing water for their irrigators? Stay tuned - this could put another spike in the market just like Colbinabin and their purchase.
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