RIVERLAND irrigators and growers gained a greater insight into their water market options at a recent online information session.
A PIRSA Water Market Fundamentals webinar – delivered by Marsden Jacob Associates – was held for the region’s water license holders last month.
Marsden Jacob Associates director Rod Carr said more than 100 irrigators and growers attended the online session.
“We actually had a greater attendance than we initially expected, which was fantastic,” he said.
“We managed to have over 130 participants and they stayed with us through the whole first hour, which was pretty pleasing.
“For some (being online) would have made it easier to speak candidly… based on my understanding that’s up there with the highest levels of attendance they’ve had for these sessions.
“It shows the online side of things can reach a lot of people very effectively.”
Mr Carr said the webinar aimed to promote a full understanding of how different water market products such as water carryover could be used more effectively.
“The real intent of the session was around helping South Australian irrigators build their market literacy and understand their options,” he said.
“Based on the questions we were asked, I’m hopeful it led to some lightbulb moments for water users, where they realised they had additional options available to them.
“We had some positive feedback from participants thinking about the potential for carryover… but also understanding the risks around carryover, and the ways of reducing that risk.
“There were some really good questions that were being asked, that were helping South Australian irrigators understand the alternative market options available to them.”
Mr Carr said low temporary water prices – currently below $200 per megalitre – had made accessing market options easier for irrigators.
“Prices fortunately have backed off a fair bit in the market compared to what we were seeing in November or December,” he said.
“We’ve seen a bit of optimism come back in which is great, and also a function of the fact we’ve seen more rain and storages starting to recover.
“The market manoeuvrability was there before, but now it’s more cost effective. The option to set things up for the coming water year was far more expensive than it is now.
“With water being considerably cheaper now, it’s potentially more viable for a greater number of irrigators to get into the market.”
Mr Carr said the new Waterflow website – developed by Marsden Jacobs – gave irrigators access to a range of free and independent market data specific to the Riverland region.
“There’s a lot more information out there with what we’ve aggregated on Waterflow, which is a free resource for them,” he said.
“They can do optimised searches and there’s a heap of information there on the nuts and bolts of the market.
“They can go there and actively do their own research, and we’re always adding to the information base.”
Mr Carr advised Riverland irrigators that gathering and analysing key information was vital to decreasing risks on the water market.
“Have a look at this sort of webinar and then start doing some careful thinking,” he said.
“Don’t be afraid to ask more questions. Both of the staff in the agencies, and AWBA member market intermediaries to explore what options are available.
“I encourage South Australian irrigators to think about their options and to consider whether now is the time to do something that will decrease water risk next year.”
The Waterflow platform can be accessed for free by visiting the website (https://www.waterflow.io/).