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Water prices double, makes farmers think twice about profitability of crops

Growers are struggling to keep up with doubling water prices brought on by little rain and high demand.

Wine grape grower Jack Papageorgiou said that many producers he had spoken to had sold up to 50 per cent of their permeant water during the Millennium Drought and were now feeling the pinch.

"They'll be in a difficult situation when the price of water goes to this sort of point — and we don't know how high it's going to go," he said.

Current water entitlement prices are estimated at a little less than $5,000 per megalitre and some stakeholders have predicted the value will rise to more than $7,000 before Christmas.

While the Central and Renmark Irrigation Trusts have said that water on the temporary market has more than doubled in price compared with this time last year.

 

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(ABC NEWS: 09/11/18)