TEMPORARY water on the Murray and Murrumbidgee water markets has dropped 13 per cent overnight, according to a national water broker.
Waterfind says the average price of temporary water has dropped from $345 a megalitre to about $300 a megalitre in the past two days.
Waterfind chief executive Tom Rooney suggests that the rapid fall in price experienced in the last 24 hours may coincide with an expectation amongst growers of an increased allocation announcement tomorrow.
"Temporary prices in the water market usually move relatively slowly, making this one of the quickest decreases seen in long time," Waterfind said.
"Market activity so far in October represents a very different price movement compared to what was experienced this time last season, when a sudden surge in demand and a shortage of water available on the market coincided with a very sharp and record rise in price."
