Waterfind is pleased to announce the release of the Half Yearly update to the Waterfind CEO Report. The report contains a retrospective overview for the first six months of the 2014/2015 irrigation season, highlighting water policy news, industry updates and the importance of maturing of temporary and permanent water markets.
In addition, the report gives a brief insight into Tom Rooney’s (Waterfind Founder) travels to China and USA. During multiple trips, Tom’s focus was to explore growth opportunities to further support Waterfind Australia and identify business opportunities in China and America. Referring to the role that Waterfind Australia can have in supporting the development of water markets in the two countries, Tom stated that “Waterfind’s experience over the past decade will provide a solid foundation for the development of international water markets as a key risk management tool to manage water scarcity, resource allocation and economic production, in the face of increased global competition and inconsistent weather patterns.”
While Tom is exploring opportunities abroad, in countries with similar water resource challenges to Australia, Alister Walsh has taken on the all-encompassing role of Acting CEO, transitioning from his position as Manager of Trade & Policy.
Tom Rooney said that Alister’s appointment will see the company maintain and further develop one of its key strengths: innovation: “The appointment allows for innovative ideas to flourish and bring a customer centric experience to all our processes and services”.
Reflecting on the long term impact of water management reform, Alister Walsh said that “the Australian farmers’ response to climate variability is a constant reminder of the rural and regional communities’ capacity to adapt; their resilience and ingenuity have enabled them to adapt their farms’ capacity to cope with drought-related challenges. The farmers’ efforts have been supported by Australia’s water Policy and Regulatory framework, technological and infrastructure investments and upgrades, and maturing water markets. The water use and gross value of irrigated agriculture, in the Murray Darling Basin, is above the pre drought level, using 20% less water. Prior to the drought, Australian irrigators were producing $317.16 per ML applied; since the drought, productivity has reached values between $542 to $748 per ML applied, a significant increase in productivity in just 10 years”.
Half a year irrigation season overview
- In October 2014 the Australian Government released the Agricultural Competitiveness Green Paper, which proposed 27 potential irrigation and dam projects that can deliver Australia’s water supply needs in the future
- In November 2014, the Water Reform and Other Legislation Amendment Bill 2014 was passed by Queensland Parliament. Key objectives of the Bill include supporting the accelerated transition of water licences to tradeable water allocations
- In November 2014 the free trade agreement between Australia and China was finalised, bringing good news to many irrigators – some of the industries that will benefit, e.g., dairy, beef, horticulture, wine exports and others.
- Dry conditions and expected lower water availability (e.g. the possibility of an El Niño occurring) have kept the demand for temporary water high during the first half of the irrigation season 2014/2015
- National temporary water markets have recorded the highest weighted average prices since the end of the Millennium drought in 2010 (highest weighted average temporary water NSW Gwydir Valley $254.5/ML)
- National permanent water market trading activity during the first half of the 2014/15 was consistent with the trading volumes experienced after the peak years of Commonwealth water purchases 2009–10 (highest weighted average permanent water NSW Gwydir Valley - General Security - $2240/ML)
- Around 1,921.5GL of the 2,750GL (69.9%) of the environmental water recovery target under the MDB Plan has been recovered to date.
To read further insights download the Waterfind Half Yearly CEO Report update available on the Waterfind website (www.waterfind.com.au/media.html).
To arrange an interview with the company CEO about the annual report contact Tracey Jordan on:
Tracey Jordan, Executive Assistant to CEO
P: 1800 890 285
M: 0448 890 428
Waterfind is a pioneer in the water market industry. The company has a strong focus on innovation and quality systems, which underpin their highly personalized service offering.
Established in 2003, Waterfind developed a quality endorsed water market system that expanded from a local focus on water supply and demand, to a national market that covers key agricultural industries and investors. At present, Waterfind facilitates the buying and selling of both permanent and temporary water across the major irrigation regions of NSW, QLD, SA and VIC.
M: 0448 890 428