THE water market generates $117 million worth of benefits annually for water users in the southern Murray-Darling Basin, new research says.
The study by the Australian Bureau of Agricultural and Resource Economics and Sciences study found that while water markets are far from perfect, they are vital in helping the region cope with drought and climate change.
The ABARES report found the benefit created by water trading was around 12 per cent of the market value in the region, but the benefits were roughly halved in the absence of carryover.
The research coincides with the Australian Competition and Consumer Commission handing its final report about the water market to the Treasurer.
ACCC agricultural commissioner Mick Keogh was tight lipped…