| 8 June 2010
Irrigators from the Macalister snapped up 750 megalitres (ML) of high reliability water shares in just 30 minutes at Southern Rural Water’s recent water auction.
Irrigators paid an average of $2,300 per megalitre for high reliability water shares at the auction, held in Maffra on 4 June.
“This auction provided an opportunity for individual irrigators to purchase additional water shares to improve their security or increase productivity,” said Managing Director, Clinton Rodda
“The results show a very positive and active water market in the Macalister Irrigation District.”
There were also 375ML low reliability water shares on offer, which sold for $220 per megalitre.
There was strong interest in the opportunity with more than 100 people attending the auction and 47 registering to bid. The 29 purchasers were all existing customers of Southern Rural Water in the Macalister/Thomson system, with demand coming primarily from the dairy industry.
The water shares became available due to water savings gained through automation projects in the Macalister Irrigation District. The shares are subject to seasonal allocations.
The auction is expected to be the first in a series of up to four to be held annually.
For more information visit www.srw.com.au or call Southern Rural Water on 1300 139 510.
Ends
MEDIA ENQUIRIES: Julie Logan on 0403 389 219 or 03 5139 3164.
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