Permanent Entitlements
- Murrumbidgee High Security: This market seems to have settled in the high $8000’s with most recent trades at around $8800. Gross volumes of trade are relatively low with parcel sizes of 10ML to 50ML most common.
- Murrumbidgee General Security: We have traded recently between $2650 and $2700. Local demand is present for parcels between 50ML and 500ML. Buyers are appreciating this cycle of high availability on General Security Entitlements as well as the ability to carry over 30% of entitlement.
- CICL Delivery Entitlements: The Member Benefit characteristic of this entitlement (10% announced for the 2022/23 water year) continues to attract interest from purchasers. Recent trades have been between $70 and $75/DE with buyers waiting.
- Groundwater: Very little Lower Murrumbidgee Deep Aquifer Groundwater has traded in the past 2 years. Smaller parcels of Zone 3 entitlement have traded in the early $4000’s and isolated transactions have occurred in Zones 1 at around $4500. Buyers appreciate the high reliability and very generous carry over characteristics.
- Murrumbidgee Zone 13 (CICL) Supplementary: This entitlement class is also referred to as History of Use entitlement and steady buyer demand sits at $800 – $850/ML.
Temporary Allocations
- Surface Allocations: The allocation market has settled to around $70 to $75/ML with a mix of buyers dipping into the market. In real terms volumes have been quite low with an announced General Security Allocation of 38% and a high carryover balance. Purchasers would also be considering storage levels with some confidence that allocations may increase with the right mix of usage creating airspace and anticipated spring inflows.
- Groundwater Allocations: Very limited activity so far, driven by a mix of high availability caused by low usage over the past 2 years and increased pumping costs tempering the appetite of buyers.
- Inter Valley Trade: Trade out of the Murrumbidgee is currently closed with the IVT balance in excess of 100,000ML (the trigger for trade out of the Murrumbidgee is 85,000ML). However NSW DPE has announced that the current IVT balance will be split on 31 August triggering an opening for trade out of the Murrumbidgee into the Murray.
