Buyback uncertainty for irrigators

by | Dec 20, 2023 | Australia, News

Increased buybacks allowed for in the federal government’s Restoring Our Rivers Bill is leaving the Murray River Group of Councils (MRGC) “massively exposed and disappointed following a recent meeting with the Murray-Darling Basin Authority. Councils will be responsible for “structural adjustment” and community assistance packages being offered to offset buyback impacts.

Campaspe deputy mayor and former dairy farmer Tony Marwood said government purchases of specific parcels of water added to the cost pressures of remaining waterholders, because it resulted in gaps in delivery and pushed up costs. The uncertainty created by buybacks will be a brake on investment according to Tongala dairy farmer Andrew Tyler in a region that is great for dairying due to the ability to grow high-quality feed.