Welcome to 2020.
The water markets have ebbed and flowed over the last few months. The Murrumbidgee IVT has been opening frequently. Water deliveries down the Goulburn saw the IVT open in late January and with further deliveries forecast, we expect it to continue opening for the next few months. As a result, prices have stabilised between $650-$750/ML in all systems.
The first outlook for the 2020-21 irrigation season were released by the Victorian authorities on 17 February. This has provided a good benchmark on which the market can begin planning and we expect to see markets move based on the forecast. Other states will release their outlooks in April.
The 40GL of Water For Fodder allocation has started being delivered. This has been a welcome boost to those irrigators who were successful in the ballot. The whole market is actually benefitting as water is transferred into the Goulburn, Murrumbidgee and above choke allowing more allocation to move into the lower Murray.