PROVIDING irrigators and growers with local water market expertise and alternative trading mechanisms, is the goal for a brokerage firm that has opened a new Riverland branch.
Waterfind last month held a ceremony – attended by Chaffey MP Tim Whetstone, Barker MP Tony Pasin and members of the local irrigation community – to open its new office in Berri.
Waterfind founder and CEO Tom Rooney said Riverland irrigators and growers continually worked toward improving water management.
“Today tradable water rights in South Australia have a value greater than $7.5 billion, but its real value to our communities and state is far bigger than this,” Mr Rooney said.
“South Australia is the driest state in the driest inhabited continent on the earth, so we have to be great managers of water, we have to be the benchmark because we have the responsibility and the duty.
“We can be proud of how far we have come with water management. Today we are very close to producing twice the amount on half the volume of water, compared to only 20 or 30 years ago.
“Valuing water through markets has been key to encouraging these improvements.”
Mr Whetstone said Waterfind’s staff members – which include former Renmark Irrigation Trust (RIT) presiding member Peter Duggin – possessed “expert” knowledge of the region.
“Waterfind has returned to its roots,” Mr Whetstone said
“The Rooney family are the pioneers of the water-broking business, and they’ve come back to the Riverland with that level of expertise.
“I speak often with Tom about local issues that need to be addressed.
“The business model for irrigation in the Riverland has changed, and a lot of irrigators now rely on temporary transfers.”
Mr Rooney said Waterfind’s Berri branch could also provide local growers and irrigators with valuation services and other products.
Mr Rooney said further effort was required to promote Federal Government regulation of the water market, after no funding was allocated toward reforms – set out in the ACCC’s recent water market inquiry – in this year’s federal budget.
“We will have to continue to look for our own ways to improve water market transaction speed, transparency and depth of offerings,” Mr Rooney said.
“Waterfind will be encouraging government over the next year to improve our legislative structures for water and will be lobbying for government to mature current legalisation.”