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160 farmers to sell $70m in water licences

29 Mar, 2010 08:33 AM
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TWO communities that have suffered some of the worst water shortages in the Murray-Darling basin are close to finalising multi-million dollar deals to sell water entitlements to the federal government and quit irrigation.

The irrigators, around Wakool in southern NSW and Campaspe in northern Victoria, expect to attract a premium price for their water, in recognition that they are closing down their channels and pipelines, according to The Australian Financial Review.

If the 60 farmers near the small township of Wakool get the price they are seeking for licences to more than 40,000 megalitres, this sale from the Murray Irrigation area would be worth above $50 million.

Separately, more than 100 farmers in the Campaspe district are offering to sell to the government licences for up to 14,000 megalitres, in a deal that could be worth above $20 million.

The Australian Financial ReviewSource: http://www.afr.com
Date: Newest first | Oldest first

READER COMMENTS

tigerdicky
29/03/2010 12:08:41 PM, on The Land

These farmers will rue the day when they sold out!
dickytiger
30/03/2010 8:44:25 AM, on The Land

$70m of our taxes? To what purpose? Once the drought is over there'll be ample water again.

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