The crippling drought in Australia has led to farmers trading water for survival, WaterSISWEB, the Scientific Information Syndication website dedicated to water resources, reported.
According to the website, water in Australia has become just like any other commodity for farmers, no different to buying a ton of grain or fertiliser.
“the world’s driest inhabited continent, there is simply not enough water to go around and households, cities, industries and agriculture all demand their share from stressed reservoirs and rivers. So Australia’s irrigation planting sector relies on a unique trading system to make the most of every drop,” the site reported.
According to Australia’s largest water broker, Waterfind, water trading has been steadily increasing.
“Water is traded mostly through independent brokers who bring sellers and buyers together and know the many rules in this heavily regulated market,” Waterfind said. “And during the drought we have seen a lot of water moving around.”
Waterfind confirmed that more than 28 billion gallons (106 000 megalitres) of water are traded each year along the Murray-Darling river system.
he company turned over AUD$1,1 billion (almost R7 billion) worth of water in 2006/07. This figure was up by 20% from the previous year, because prices rose and some license-holders realised that their allocation was worth more to them as cash. – Peter Mashala
