Water trading update - week ending 7 May 2021 - Elders Rural Services
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Water trading update – week ending 7 May 2021

The Goulburn-Murray Inter-Valley Account Balance has reduced to the point where there is no longer a restriction on trading from Goulburn to Murray. The Account Balance reduces due to the Murray-Darling Basin Authority calling upon water held in the Goulburn Valley storages (dams) to be used to fulfill water delivery obligations to irrigators further downstream (e.g. Sunraysia and Riverland). Therefore, sellers in the Goulburn Valley can sell to Murray Valley water account holders. This means that the price of temporary water in these two trading regions have reached parity.
The pattern over the past few years has been that the Goulburn is closed-off early in the season and the MDBA delivers water in the summer months which reduces the restriction and the two markets become one.

The market price of temporary water in the trading regions above and below the Barmah Choke have also reached parity. However, the mechanism for this occurring is different. The price of temporary water within these trading regions has fallen to a similar price point, implying no advantage to sell water in either region. Therefore, as water was being traded between regions the Barmah Choke Account Balance ‘drifted’ open.

The Bureau of Meteorology (BOM) is predicting May to July rainfall to be above average for the southern half of the mainland. May is likely to be drier than average in northern Australia and western Tasmania, while a wetter than average May is likely for central and south-east WA, western SA, and south-east NSW. Maximum temperatures for May to July are likely to be above average for most parts of Australia. Similarly, minimum temperatures for May to July are likely to be above average Australia wide. The El Niño–Southern Oscillation is neutral, as are most other climate drivers.

 

Prices

Water marketTemporary (per ML)
Murray (below Choke) $95.00-100.00
Murray (above Choke) $95.00-100.00
Murrumbidgee $80.00-85.00
Goulburn$95.00-100.00

Source: Elders Water Trading

Permanent sales / listings Water Market
258ml x $1,610 NSW MIL GS
452ml x $1,615 NSW MIL GS
59ml x $7,000 (wet) SA Murray FOR SALE

Source: Elders Water Trading

Murrumbidgee Zone average Temp Price 1st Apr-1st May

Graph showing Murrumbidgee Zone average Temp Price 1st Apr-1st May.

Data provided by: www.waterflow.io

Goulburn Zone average Temp Price 1st Apr-1st May

Graph showing Goulburn Zone average Temp Price 1st Apr-1st May

Data provided by: www.waterflow.io

Murray (below Choke) Zone average Temp Price 1st Apr-1st May

Graph showing Murray (below Choke) Zone average Temp Price 1st Apr-1st May.

Data provided by: www.waterflow.io

Murray (above Choke) Zone average Temp Price 1st Apr-1st May

Graph showing Murray (above Choke) Zone average Temp Price 1st Apr-1st May

Data provided by: www.waterflow.io

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

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