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1Australian Water Markets Report 2017–18 National Overview Section

Australian Water Markets Report 2017–18

NATIONAL OVERVIEW SECTION

Australian Water Markets Report 2017–18: National Overview Section

ISSN: 2207-1733

Published by the Bureau of Meteorology 2019

GPO Box 1289 Melbourne, Vic 3001 Tel: 03 9669 4000 Fax: 03 9669 4699

[email protected] www.bom.gov.au

With the exception of logos and photographs, this publication is licensed under a Creative Commons Attribution 3.0 Australia Licence. The terms and conditions of the licence are available at creativecommons.org/licenses/by/3.0/au

Attribution for this publication should be: © Commonwealth of Australia (Bureau of Meteorology) 2019

Photographs © individual copyright holders 2019, as follows:

Cover: Aerial view of Lake Eildon and Goulburn river, Victoria (tsvibrav, iStock)

Key Messages: Donnelly River, Western Australia (Kevin_Thorpe, iStock)

References: View of Lake Argyle nearby Kununurra, Western Australia (Marine Deswarte, iStock)

http://www.bom.gov.au

http://creativecommons.org/licenses/by/3.0/au

http://creativecommons.org/licenses/by/3.0/au


CONTENTS

Key messages: National overview 4

Introduction 5

Water availability 7

Water supply-side factors 10

Water demand-side factors 13

Allocation markets 15

Entitlement markets 18

References 22

KEY MESSAGESNATIONAL OVERVIEW

• In the first half of 2017–18, rainfall was highly variable

across most of Australia. Average or above average rainfall

was seen in large parts of Western Australia, southern

New South Wales and much of Victoria. In contrast,

rainfall was well below average (lowest 5 to 10 per cent of

historical observations) across large areas in the eastern

states and the south-west of Western Australia in the

second half of the year

• Below average rainfall for 2017–18 in the Murray–Darling

Basin (MDB) led to reduced inflow into storages.

Storage volumes in the northern MDB decreased from

65 per cent to 32 per cent while storage volumes in the

southern MDB also decreased, from 70 per cent to

59 per cent at the end of the year

• With reduced water availability, allocation and entitlement

prices were significantly higher in most areas compared

to 2016–17

• There were record levels of allocation trade volumes

and numbers in 2017–18, with environmental trades

accounting for about 26 per cent of total allocation trades

• There was a record number of entitlement trades

nationally, continuing an increasing trend in entitlements

traded for groundwater in the MDB, for surface water in

the northern MDB and for surface and groundwater in

regions outside of the MDB

• The total estimated turnover of the water market in

Australia was around $2.4 billion for 2017–18

• To support price discovery in water markets, there are

still improvements that can be made in the reporting

of trade prices. In 2017–18, 44 per cent of allocation

transactions either had no reported price or reported a

$0 price (this is after environmental trades have been

excluded). For entitlement trades, $0 or no price reported

accounted for 62 per cent of transactions. Focus on

differentiating commercial arm’s length transactions from

related party transfers, environmental transfers, and

property sales that include water should still remain a

priority for improved water market reporting


INTRODUCTION

Australian water markets involve the buying and selling

of water entitlements and allocations. They facilitate

the movement of scarce water resources between

agricultural, urban and environmental uses. In 2017–18,

the value of Australia’s water market were estimated to

be $2.4 billion.

Water market participants are predominantly involved

with irrigated agriculture (Grafton and Wheeler 2018).

The gross value of irrigated agricultural production was

estimated at $15.5 billion in 2016–17 (ABS 2019).

About half of all irrigators in the southern MDB have

traded an entitlement and 78 per cent have traded an

allocation (Grafton and Wheeler 2018).

More recently water market participants have also

included environmental water managers, water utilities

and investors.

Australian water markets comprise many separate

markets each defined by water systems or administrative

boundaries. The scale of Australia’s water markets

varies greatly: from small unconnected water systems

to extensive connected systems such as the southern

Murray–Darling Basin which is the largest water trading

area in Australia (Figure 1).

Figure 1: Surface water systems in Australia where trading occurred in 2017–18

Southern MDB Northern MDB Rest of Australia

Mulgrave–Russell BasinJohnstone Basin

Don Basin

Intersecting Streams

SA Murray

Kiewa

LatrobeSouth Gippsland

Goulburn

Yarra

Maribyrnong


Australia’s water markets allow the trading of a variety of water rights (termed water products) within

and between separate water resources. Water products generally fall into the broad categories of:

• Water access entitlement: A perpetual or ongoing entitlement to exclusive access to a share of water

from a specified consumptive pool as defined in the relevant water resource plan, and

• Water allocation: The specific volume of water allocated to water access entitlements in a given water

year or allocated as specified within a water resource plan.

An entitlement trade is defined as a transfer of an entitlement from one legal entity to another, with or without

change of location. An allocation trade is an assignment of an allocation from one authorised water user to

another, or between water accounts held by the same water user, with or without a change in location.

Each State and Territory uses different terminology to describe statutory water rights. To avoid confusion,

this report uses the generic terms of ‘entitlement’ and ‘allocation’ which are equivalent to the National Water

Initiative (NWI) terms ‘water access entitlement’ and ‘water allocation’.

NWI EQUIVALENT TERMINOLOGY

Jurisdiction Entitlement Allocation

Australian Capital Territory Water access entitlement Water allocation

New South Wales Water access licence Water allocation

Northern Territory Water licence Water licence

Queensland Water allocation Seasonal water assignment

South Australia Water licence/water access entitlement Water allocation

Tasmania Water licence Water allocation

Victoria Water share Water allocation

Western Australia Water licence Water allocation*

NB: This is not a complete list of entitlements on issue in each jurisdiction *Applicable only to Harvey Water

This section provides a national overview of water trading activities for the 2017–18 water year and factors that

influenced water markets activities. These include the amount of water made available to water users as well as

water supply and demand factors. Further details on particular segments of Australia’s water markets are provided in

separate sections of this report:

• Southern MDB (accounts for almost 90 per cent of allocation trades and 32 per cent of entitlement trades)

• All other water systems including northern MDB, groundwater in the MDB and markets in other parts of Australia

such as Queensland, Tasmania, southern Victoria, South Australia and Western Australia.

Water trading data presented in this report are available on the Bureau of Meteorology’s Water Markets Dashboard

(www.bom.gov.au/water/dashboards/#/water-markets/national/state/at).

http://www.bom.gov.au/water/dashboards/#/water-markets/national/state/at


WATER AVAILABILITY

The amount of water made available to water users

in Australia is governed by entitlements on issue

(or water licences). In 2017–18, 38 674 GL of water

entitlements were on issue in Australia which was

similar to 2016-17. These entitlements were distributed

between regulated and unregulated surface water

systems and groundwater systems (Figure 2).

The MDB accounted for 77 per cent of Australia’s

regulated surface water entitlements.

Systems outside the MDB accounted for 76 per cent of

unregulated surface water entitlements and 72 per cent

of groundwater entitlements.

For entitlement on issue volumes at a surface water

system (or catchment) scale, the largest systems are in

the MDB (Figure 3, page 8). Large systems outside the

MDB include the Burdekin Basin, Tasmania, the Sydney

South Coast and Hunter systems.

0

5000

10 000

15 000

20 000

Rest of AustraliaMDB GroundwaterNorthern MDBSouthern MDB

Gig

alitr

es

Regulated surface water Unregulated surface water Groundwater

Figure 2: Nominal volume of water entitlements on issue, by region and type, 2017–18


0 1000 2000 3000 4000

Wimmera-Mallee

Harvey

Victoria River-Wiso

Pioneer Valley

Mary Basin

South Gippsland Basin

Barwon-Darling Watercourse

Latrobe Basin

Barron

QLD Border Rivers

North Coast

Thomson Basin

Adelaide & Mt Lofty Ranges

Gulf

Lower Darling

Ord River and Tributaries

Moreton

NSW Border Rivers

Burnett Basin

Namoi

Condamine-Balonne

Fitzroy Basin

Yarra Basin

Lachlan

Gwydir

SA Murray

Hunter

Macquarie-Castlereagh

Sydney South Coast

Burdekin Basin

VIC Murray

Tasmania

Goulburn

NSW Murray

Murrumbidgee

High reliability Medium reliability General/Low reliability Other

Nominal volume (GL)

*Only showing water systems with nominal surface water entitlement volumes of >100 GL

Figure 3: Volume of surface water entitlements on issue, by water system and reliability class, 2017–18


In 2017–18, 8601 GL of groundwater entitlements were

on issue. The majority of these entitlements were for

areas outside the Murray–Darling Basin, particularly

where surface water is less reliable (Figure 4).

Groundwater entitlements often have different

properties from surface water entitlements. For example,

some groundwater entitlements allow allocated water

to be taken over multiple years, whereas most surface

water entitlements allow allocated water to be taken

annually. In some cases, such as alluvial groundwater

systems, groundwater areas may closely match surface

water areas. However, some alluvial systems and

other groundwater systems may cross surface water

area boundaries. For example, the Great Artesian

Basin crosses dozens of surface water areas across

Queensland, New South Wales, the Northern Territory

and South Australia. In some cases, layered groundwater

zones may themselves cross—for example, the Lachlan

Fractured Rock groundwater source sits under parts

of the Lachlan Alluvium, Lower Darling Alluvium and

Murrumbidgee Alluvium. Given the hydro-geological

challenges of sustainably managing groundwater

systems, trade of groundwater—even within a system—

is usually more limited than trade of surface water.

0 500 1000 1500

Wimmera-Mallee

South Australian Murray Region

Lachlan and South Western Fractured Rock

Macquarie-Castlereagh Alluvium

Murray Alluvium

Namoi Alluvium

Condamine-Balonne

Lachlan Alluvium

Murrumbidgee Alluvium

Goulburn-Murray

Collie

Burdekin Basin

North Coast

Logan Basin

Pioneer Valley

Busselton-Capel

Gascoyne

Arrowsmith

Sydney South Coast

Burnett Basin

East Murchison

Adelaide & Mt Lofty Ranges

Great Artesian Basin

Fitzroy Basin

Canning-Kimberley

Perth

Gippsland Groundwater Basin

Gingin

Otway-Torquay Groundwater Basin

Hunter

Daly Roper (Groundwater)

Goldfields

Pilbara

South East

Groundwater—Rest of Australia Groundwater—MDB

Nominal volume (GL)

*shows only groundwater areas with entitlements of greater than 50 GL

Figure 4: Groundwater entitlements on issue, 2017–18


WATER SUPPLY-SIDE FACTORS

In 2017–18 rainfall was below average across most

of Australia, with serious to severe rainfall deficiencies

for northern New South Wales, central Queensland,

eastern South Australia and parts of Victoria

(Figure 5). The exception to this trend was the southern

MDB which saw above average rainfall in the summer

months.

Rainfall was highly variable across most of Australia

in the first half of 2017–18 (Figure 6, page 11).

Average or above average rainfall was seen in large

parts of Western Australia, southern New South Wales

and much of Victoria. In contrast, rainfall was well

below average (lowest 5 to 10 per cent of historical

observations) across large areas in the eastern states

and the south-west of Western Australia in the second

half of the year (Figure 7, page 11).

Figure 5: Rainfall deciles, Australia, 1 July 2017 to 30 June 2018


Figure 6: Rainfall deciles, Australia, 1 July to 31 December 2017

Figure 7: Rainfall deciles, Australia, 1 January to 30 June 2018


Australia’s mean daily maximum temperature for the

2017–18 water year was the warmest on record,

with nearly the entire country having mean maximum

temperatures that were above average (Figure 8). It was

1.46°C above the average over the 1961–90 baseline

period, and more than 0.1°C warmer than the previous

record for a financial year period (2015–16).

Average storage volumes across Australia decreased

from 67 per cent to 59 per cent during 2017–18

(Figure 9), reflecting the generally dry end to the water

year. This was most evident in the northern MDB,

where storage volumes decreased from 65 per cent

to 32 per cent. Storage volumes in the southern MDB

also decreased, from 70 per cent to 59 per cent.

Figure 8: Mean daily maximum temperature deciles, Australia, 1 July to 30 June 2018

0

20

40

60

80

100

2018

2017

2016

2015

2014

2013

2012

Southern MDB Northern MDB Australia

Sto

rag

e vo

lum

es (%

)

Figure 9: Average water storage volumes, October 2012 to June 2018


WATER DEMAND-SIDE FACTORS

Agriculture is the primary user of water in Australia.

The most recent data available, which was for 2016-17,

showed agricultural use accounted for around 70 per

cent of water extractions, followed by urban use

(20 per cent) (Figure 10) (BOM 2018).

Most agricultural water use is for irrigation. The most

recent data available, which was for 2016-17,

irrigation consumed 91 per cent of water used in

agriculture (ABS 2018). In 2016–17, the MDB accounted

for 70 per cent of irrigation water use and 60 per cent of

irrigated land use in Australia (Figures 11 and 12)

(ABS 2018). In Australia, most water trade occurs

between agricultural users (Grafton and Wheeler 2018).

70%

Agriculture11 010 GL

20%

Urban3130 GL

10%

Industry1526 GL

Figure 10: Water extractions by use, Australia, 2016–17

0

500

1000

1500

2000

2500

2016

–17

2015

–16

2014

–15

2013

–14

2012

–13

2011

–12

2010

–11

2009

–10

2008

–09

2007

–08

Are

a (’0

00 h

a)

MDB Rest of Australia

Figure 11: Farm irrigation water use, 2007–08 to 2016–17. Data source: Australian Bureau of Statistics

0

2000

4000

6000

8000

10 000

12 000

2016

–17

2015

–16

2014

–15

2013

–14

2012

–13

2011

–12

2010

–11

2009

–10

2008

–09

2007

–08

Gig

alitr

es

MDB Rest of Australia

Figure 12: Area of irrigated land, 2007–08 to 2016–17. Data source: Australian Bureau of Statistics


Figure 13 shows the volume of water that was

extracted for agriculture in 2017–18, by water system.

Within the MDB, irrigated agriculture includes pasture,

annual crops such as rice and cotton as well as

horticulture. Outside the MDB, significant volumes

of water are used to irrigate sugar cane in northern

Queensland, particularly in the Burdekin region, cotton in

the Fitzroy, and pasture in Tasmania (ABARES 2018).

Water use for the environment has also risen in recent

years, particularly in the MDB. Between 2007–08 and

2017–18, the Australian Government acquired 1935 GL

of entitlements (Long-term average annual yield) for the

environment in the MDB through a mix of purchases and

investments in infrastructure (DAWR 2018).

0 200 400 600 800 1000 1200 1400 1600

QLD Border Rivers

Burnett Basin

Gingin

NSW Border Rivers

Condamine and Balonne

Namoi

Ord River and Tributaries

Thomson

Gwydir

Lachlan

Fitzroy Basin


Tasmania

SA Murray

Burdekin Basin

Goulburn

NSW Murray

Murrumbidgee

Vic Murray

Gigalitres

Figure 13: Volume of water extracted for agriculture, by water system, 2017–18


ALLOCATION MARKETS

In 2017–18, there was 7526 GL of allocation trade

across Australia (Table 1). The majority of allocation

trade continued to be for surface water in the southern

MDB, which accounts for 88 per cent of total allocation

trade in 2017–18.

Table 1: Allocation trade summary, 2017–18

Region Resource

type

Transactions Trades with market

rate price reported (%)

Volume

(GL)

Estimated

Turnover ($m)

Southern MDB Surface water 28 838 55 6643 582

Northern MDB Surface water 1137 54 456 57

Groundwater MDB Groundwater 837 60 223 11

Rest of Australia Surface water 1481 20 191 4

Groundwater 183 – 13 –

All Australia 32 476 54 7526 658

*For the turnover estimate, identified environmental transfers have been excluded.

Allocation trades without a ‘market rate’ reported

(i.e. no price reported or price unlikely to be from arm’s

length transactions, defined in this report as a price

<$5/ML or >$1000/ML) made up 46 per cent of

all allocation trades in 2017–18. Most of these

(45 per cent of all allocation trades) either had no

price or $0 price reported. There are a number of

reasons of these transactions.

• Outside of New South Wales, Victoria and South

Australia there was limited price data available for

allocation trades.

• Within these States a large proportion of these

transactions are between water accounts of related

entities, such as different accounts of the same

business or between families. For these transactions,

often nil consideration is reported.

• Within the southern MDB, 27 per cent by volume

of $0 transactions related to environmental water

transfers but they only account for one per cent of

the number of transactions.

The volume of allocation trade in Australia has grown

substantially since 2008–09 (Figure 14, page 16).

In 2017–18 the total volume of allocation trade was

up seven per cent from 2016–17. Surface water trade

continued to dominate, accounting for 97 per cent

(7290 GL) of allocation trade. The volume of groundwater

allocation traded in 2017–18 was 236 GL.

The total number of trades rose by around 32 per cent

from 2016–17 to 32 476 transactions.

The growth in the volume of allocations traded has

been due in part to the growth in identified

environmental allocation transfers, particularly in

the southern MDB (Figure 15, page 16). These are

transfers within and between water systems to achieve

environmental watering objectives. These transfers

have nil consideration paid, but they are still included on

trade registers along with market activity. In 2017–18,

identified environmental transfer volumes in the southern

MDB accounted for 24 per cent (1791 GL) of all

allocations traded in Australia.


Gig

alitr

esN

umb

er of trad

es

0

1000

2000

3000

4000

5000

6000

7000

8000

2017–182016–172015–162014–152013–142012–132011–122010–112009–102008–095000

10 000

15 000

20 000

25 000

30 000

35 000

2017–182016–172015–162014–152013–142012–132011–122010–112009–102008–09

Surface water volume Groundwater volume Number of trades

Figure 14: Volume and number of water allocation trades, 2008–09 to 2017–18

Gig

alitr

es

0

1000

2000

3000

4000

5000

6000

7000

8000

2018201720162015201420132012201120102009

Northern MDB—Surface water Southern MDB—Surface water (excluding environment)

Southern MDB—Surface water (environment) Rest of Australia + Groundwater

Figure 15: Volume of surface water allocation trade, by region, 2009 to 2018


In 2017–18, the majority of surface water trade volumes

occurred in the southern MDB, particularly in the Murray,

Murrumbidgee and Goulburn water systems (Figure 16).

These regions also comprised the bulk of environmental

transfers. Outside the MDB, the most significant trade

volumes were recorded in the Fitzroy, Barron and

Burdekin water systems in north-east Queensland.

Allocation prices were significantly higher in 2017–18

compared to the previous year, driven partly by the

rainfall deficit over the course of the year in the southern

MDB (Figure 17, page 18). Price data from the northern

MDB was not as comprehensively available as in the

southern MDB however the high prices shown in the

Gwydir, Namoi and Macquarie-Castlereagh water

systems are also indicative of the lower rainfall in the

northern MDB. Many catchments experienced price

increases of over 150 per cent. Trade restrictions and

commodity prices may have combined with lower water

availability in the later part of 2017–18 to drive those

prices higher than the previous year. Average prices

tended to be higher in the northern MDB, ranging from

$171/ML in the NSW Border Rivers to $293/ML in the

Gwydir. For the few systems outside the MDB where

allocation price data is available, prices ranged from

$38/ML in the Harvey to $328/ML in the Werribee Basin.

0 200 400 600 800 1000 1200 1400 1600 1800 2000

Burnett Basin

Condamine-Balonne

Hunter

Thomson Basin

Loddon

Burdekin Basin

Barron

NSW Border Rivers

Namoi

Campaspe

QLD Border Rivers

Fitzroy Basin

Gwydir

Lower Darling


Lachlan

SA Murray

NSW Murray

Goulburn

Murrumbidgee

VIC Murray

Quantity traded (GL)

Figure 16: Surface water allocation trade, by water system, 2017–18


0 50 100 150 200 250 300 350

Burnett Basin

Harvey

Hunter

Ovens

Thomson Basin

Broken

Lachlan

Goulburn

Tasmania

Campaspe

Lower Darling

Loddon

NSW Murray

VIC Murray

Murrumbidgee

SA Murray

NSW Border Rivers


Namoi

Gwydir

Werribee Basin

$/ML

Figure 17: Average surface water allocation price, by water system, 2017–18

ENTITLEMENT MARKETS

The largest volumes of entitlement trade occurred in the southern and northern MDB surface water, with volumes

similar for these two regions in 2017–18 (Table 2).

Table 2: Entitlement trade summary, 2017–18

Region Resource

type

Transactions Trades with market rate

price reported (%)

Volume

(GL)

Turnover

($m)

Southern MDB Surface water 4629 54 504 845

Northern MDB Surface water 601 39 502 481

Groundwater MDB Groundwater 827 33 178 111

Rest of Australia Surface water 2643 14 223 269

Groundwater 1667 9 191 31

All Australia 10 367 31 1598 1737


As a general trend between 2007–08 and 2017–18,

the number and volume of entitlement trades have

increased significantly (Figure 18). In 2017–18 the number

of entitlement trades increased by six per cent although

volumes decreased by 23 per cent compared to the

previous water year. Trade spikes in 2008–09, 2009–10

and 2013–14 reflected a significant increase in the volume

of water traded to the Commonwealth in the southern

MDB as part of Murray–Darling Basin Plan water recovery.

The 2008–09 and 2009-10 water recovery was

predominantly achieved through direct purchase,

but the 2013–14 recovery is associated with

infrastructure upgrades. Apart from these trade spikes,

the long-term trend has been towards more entitlement

trade. This has resulted in trade volumes close to

doubling over the last decade.

Gig

alitr

esN

umb

er of trad

es

0

500

1000

1500

2000

2500

2017–182016–172015–162014–152013–142012–132011–122010–112009–102008–092007–080

2000

4000

6000

8000

10 000

12 000

2017–182016–172015–162014–152013–142012–132011–122010–112009–102008–092007–08

Surface water volume Groundwater volume Number of trades

Figure 18: Volume and number of entitlement trades nationally, by source, 2007–08 to 2017–18


There is an upward trend in both volumes and numbers

of entitlement trades in the northern MDB as well

as groundwater in the whole of the MDB, and a

gradual increase in the rest of Australia (Figure 19).

This could reflect entitlement trading being viewed

as a standard business tool for irrigators to manage

climate variability and structural changes to agricultural

businesses, such as farm consolidations. It also shows

that in markets outside the MDB, such as Tasmania there

is an increasing participation in water trading.

0

300

600

900

1200

1500

2017

–18

2016

–17

2015

–16

2014

–15

2013

–14

2012

–13

2011

–12

2010

–11

2009

–10

2008

–09

2007

–08

Surface water—southern MDB Surface water—northern MDB

Groundwater MDB Rest of Australia—Surface + Groundwater

Gig

alitr

es

Figure 19: Volume of water entitlement trade, 2007–08 to 2017–18

As was the case in 2016–17, there was significant

trade activity in surface water entitlements in the

Macquarie–Castlereagh and NSW Border Rivers

systems in the northern MDB in 2017–18

(Figure 20, page 21). However, a small number

of large transfers dominate in both systems.

In the case of the Macquarie–Castlereagh,

the large volume of trade is the result of changes

in ownership composition of entitlements in the

Trangie–Nevertire Irrigation Scheme but this also

represents commercial transactions. The southern

MDB recorded significant entitlement trade in the

Murrumbidgee, Victorian Murray, NSW Murray and

Goulburn systems. The most significant activity

outside the MDB was in the Tasmania, Burdekin,

Hunter, Burnett, Fitzroy and Thomson systems.


0 50 100 150 200 250

Sydney South Coast

Mary Basin

North Coast

Pioneer Valley

Barron

Gulf

Thomson Basin

Fitzroy Basin

Burnett Basin

Hunter

Burdekin Basin

Lower Darling

Condamine-Balonne

Namoi

QLD Border Rivers

SA Murray

Tasmania

Lachlan

VIC Murray

Goulburn

Gwydir

NSW Murray

NSW Border Rivers

Murrumbidgee


Gigalitres

Figure 20: Volume of surface water entitlement trade, by water system, 2017–18

The MDB data shows that surface water entitlement

prices generally increased in the southern and

northern MDB in 2017–18 compared to 2016–17

(Figure 21). Due to the dispersed nature of entitlement

trading across other parts of Australia, and some

prices reflecting a property sale with land and water,

no assessment has been included here for other

water systems. Further discussion on trading in

other water systems is in a separate section of the

Australian water markets report.

0

200

400

600

800

1000

1200

1400

1600

1800

2000

2017

–18

2016

–17

2015

–16

2014

–15

2013

–14

2012

–13

2011

–12

2010

–11

2009

–10

2008

–09

2007

–08

Surface water—northern MDB ($/ML) Surface water—southern MDB ($/ML)

Ind

ex ($

/ML)

Figure 21: Surface water entitlement prices, 2007–08 to 2017–18


REFERENCES

ABARES (2018). Australian water markets report 2016–17.

www.agriculture.gov.au/abares/research-topics/water/aust-water-markets-

reports#references [Accessed 1 June 2018].

ABS (2018). Water use on Australian farms 2016–17.

www.abs.gov.au/ausstats/[email protected]/mf/4618.0 [Accessed 10 September 2018].

ABS (2019). Water Account Australia 2016–17.

www.abs.gov.au/ausstats/[email protected]/mf/4610.0 [Accessed 5 March 2019].

BOM (2018). Water in Australia.

www.bom.gov.au/water/waterinaustralia/files/Water-in-Australia-2016-17.pdf

[Accessed 7 December 2018].

Department of Agriculture and Water Resources (2018).

Water Recovery under the Basin Plan as at 30 June 2018.

www.agriculture.gov.au/water/mdb/progress-recovery/progress-of-water-

recovery [Accessed 1 November 2018].

Grafton, Q and Wheeler, S (2018). Economics of water recovery in the

Murray–Darling Basin, Australia. Annual Review of Resource Economics.

http://www.agriculture.gov.au/abares/research-topics/water/aust-water-markets-reports#references

http://www.agriculture.gov.au/abares/research-topics/water/aust-water-markets-reports#references

http://www.abs.gov.au/ausstats/[email protected]/mf/4618.0

http://www.bom.gov.au/water/waterinaustralia/files/Water-in-Australia-2016-17.pdf

http://www.agriculture.gov.au/water/mdb/progress-recovery/progress-of-water-recovery

http://www.agriculture.gov.au/water/mdb/progress-recovery/progress-of-water-recovery

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