160 farmers to sell $70m in water licences

29 Mar, 2010 08:33 AM

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


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

These farmers will rue the day when they sold out!
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.


Screen name *
Email address *
Remember me?
Comment *


light grey arrow
Just a farmer, You should direct that question to former PM John Howard and ask him why he
light grey arrow
I don't know about the rest of the world, but I would actually like to see scientific, objective
light grey arrow
And more of Australia goes offshore. It would be a surprise if the new Chinese owners of