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    ELD   AU000000ELD6

ELDERS LIMITED

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Elders : Water trading update – week ending 10 September 2021

09/10/2021 | 03:12am EDT
10 Sep 21
Water trading update - week ending 10 September 2021

Rainfall was widespread across much of the Murray Darling Basin (MDB) for the first week of September with the highest totals recorded across the upper Murray catchments.

In New South Wales, Cabramurra in the western Snowy Mountains recorded 82 mm and Khancoban on the southwest slopes recorded 94 mm. In the Ovens catchment, Mt Buffalo recorded 102 mm and Harris Lane recorded 110 mm. In north east Victoria, Hunters Hill recorded 95 mm, and the town of Mitta Mitta recorded 92 mm.1

The seasonal outlook for 2021‑22 forecasts rainfall average or better, with the major climate indicators either neutral or better. The state allocation outlooks are generally quite favourable and are higher than the historical averages for all major entitlement types. However, compared to 2020‑21, some regions such as the Murrumbidgee are projected to receive significantly less water. Further supporting water supply in 2021‑22, around 2,587 GL of water was carried forward from 2020‑21 across the southern basin - the highest level of carryover since 2017‑18.

Across the southern basin, prices similar to those experienced in 2020‑21 are forecast. The exception is the Murrumbidgee, where prices are forecast to be higher, due to a projected decrease in allocations for general security entitlements in 2021-22.

Demand for water in regions below the choke is projected to remain high in 2021‑22, as almond trees continue to mature in this region, following record levels of production in 2021.

Inter-Valley Trade (IVT) limits will continue to play an important role in determining prices in 2021‑22. The Goulburn to Murray and the Barmah choke IVT limits are likely to lead to higher prices in downstream Murray catchment regions. The combination of higher water demand, and binding trade limits, means that regions below the Barmah choke are forecast to experience higher water prices in all-weather scenarios, compared to the average southern basin price.2

References

  1. Murray Darling Basin Authority
  2. Australian Department Agriculture, Water and Environment (ABARES)
Prices
Temporary water market
Water Market Temporary (per ML)
Murray (Below Choke) $140.00 to $150.00
Murray (Above Choke) $95.00 to $105.00
Murrumbidgee $105.00 to $115.00
Goulburn $110.00 to $120.00

Source: Elders Water Trading

Open allocation for the season

Trading region Entitlement Type Percentage
NSW Murray High security 97%
General security 30%
NSW Murrumbidgee High security 95%
General security 52%
Vic Murray High reliability 57%
Vic Goulburn High reliability 71%
SA Murray Class 3 (irrigation) 100%

Source: Elders Water Trading

Murray (below Choke) Zone average Temp Price 1 August to 3 September 2021

Data provided by: www.waterflow.io

Murray (above Choke) Zone average Temp Price 1 August to 3 September 2021

Data provided by: www.waterflow.io

Murrumbidgee Zone average Temp Price 28 June to 31 July 2021

Data provided by: www.waterflow.io

Goulburn Zone average Temp Price 1 August to 3 September 2021

Data provided by: www.waterflow.io

For assistance with your water needs contact the Elders water trading team on 1300 220 214

Learn about our services

Disclaimer

Elders Ltd. published this content on 10 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 September 2021 07:11:02 UTC.


© Publicnow 2021
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