Factors Influencing Water Allocation And
Entitlement Prices In The Greater Goulburn
Area Of Australia
Author(s)
S. Wheeler, H. Bjornlund, M. Shanahan & A. Zuo
Abstract
This paper examines the factors that influence the price of water allocations and
entitlements by using actual monthly prices paid for water allocations and
entitlements from 1993 to 2007. Water allocation prices are influenced by
seasonal factors, current water allocations received, some rural commodity prices
and policy impacts. The price of water entitlements are most significantly
influenced by current prices of water allocations, allocations currently received,
seasonal factors and government water policy. Such an analysis highlights the
importance of government policy in influencing water markets.
Keywords: water markets, allocation water prices, entitlement water prices.
1 Introduction
Australia has increasingly promoted markets in water allocations and
entitlements as an integral part of agricultural water management. Water markets
have been functioning in Australia since 1984 and by now farmers in all states
can buy and sell water on a temporary basis (allocation trading), or on a
permanent basis (entitlement trading), as required. Farmers may sell their
‘allocation’ each year (the amount the government announces each may receive
each year, based on rainfall and water storage conditions) or their ‘entitlement’
(the amount of water that ‘by right’ is linked to their ownership of property and
is permanently associated with that land (unless sold).
Within the Goulburn-Murray Irrigation District (GMID) in Victoria market
prices for both entitlements and allocations have increased considerably since
Keywords
water markets, allocation water prices, entitlement water prices.
Related Book
Other papers in this volume
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