Close Menu
    Facebook X (Twitter) Instagram
    • Home
    • About Us
    • Digital Subscription
    • Advertisement
    • Contact Us
    Facebook X (Twitter) Instagram
    The Tennessee TribuneThe Tennessee Tribune
    Advertise With Us
    • Home
      • COVID-19 Resource Center
        • Dr. Henry Louis Gates’ PSA Radio
      • Featured
    • News
      • State
      • Local
      • National/International News
      • Global
      • Business
        • Commentary
        • Finance
        • Local Business
      • Investigative Stories
        • Affordable Housing
        • DCS Investigation
        • Gentrification
    • Editorial
      • National Politics
      • Local News
      • Local Editorial
      • Political Editorial
      • Editorial Cartoons
      • Cycle of Shame
    • Community
      • History
      • Tennessee
        • Chattanooga
        • Clarksville
        • Knoxville
        • Memphis
      • Public Notices
      • Women
        • Let’s Talk with Ms. June
    • Education
      • College
        • American Baptist College
        • Belmont University
        • Fisk
        • HBCU
        • Meharry
        • MTSU
        • University of Tennessee
        • TSU
        • Vanderbilt
      • Elementary
      • High School
    • Lifestyle
      • Art
      • Auto
      • Tribune Travel
      • Entertainment
        • 5 Questions With
        • Books
        • Events
        • Film Review
        • Local Entertainment
      • Family
      • Food
        • Drinks
      • Health & Wellness
      • Home & Garden
      • Featured Books
    • Religion
      • National Religion
      • Local Religion
      • Obituaries
        • National Obituaries
        • Local Obituaries
      • Faith Commentary
    • Sports
      • MLB
        • Sounds
      • NBA
      • NCAA
      • NFL
        • Predators
        • Titans
      • NHL
      • Other Sports
      • Golf
      • Professional Sports
      • Sports Commentary
      • Metro Sports
    • Media
      • Video
      • Photo Galleries
      • Take 10
      • Trending With The Tribune
    • Classified
    • Obituaries
      • Local Obituaries
      • National Obituaries
    The Tennessee TribuneThe Tennessee Tribune
    National/International News

    Opaque Water Trade Market Fuels Suspicion In Australia

    zenger.newsBy zenger.newsApril 23, 2021No Comments3 Mins Read
    Facebook Twitter LinkedIn Telegram Pinterest Tumblr Reddit Email
    Share
    Facebook Twitter LinkedIn Pinterest Email
    Advertisement

    SYDNEY — The competition watchdog has warned a water trade detail drought is fueling farmers’ suspicions about dodgy deals and market manipulation.

    The Australian Competition and Consumer Commission‘s report into water trading across the Murray-Darling Basin Plan was made public last month.

    The landmark inquiry recommended a national overarching water market regulator with access to proper trading information that doesn’t currently exist.

    Before a Senate hearing on Thursday, Australian Competition and Consumer Commission deputy chair Mick Keogh said the AUD 2 billion ($1.54 million) markets needed proper regulation.

    While other agricultural markets like livestock and wool have a wealth of quality information, water trades lack similar requirements.

    “That, of course, then leads to a lack of confidence, suspicions about what happens in the market,” Keogh told the hearing. “Ultimately, that’s to the detriment of everyone involved.”

    Researcher Scott Hamilton tweeted ‘The failure of the Murray Darling Basin Plan is linked to poor political decisions but also poor market design.’

    The Australian Competition and Consumer Commission deputy chair contrasted an equally turbulent period in water markets with wool, which had its price around halved in an 18-month period.

    “There were virtually no claims from farmers that the market was being distorted or there was nefarious activity occurring,” he said. “The level of confidence producers have means they understand what’s happening in the market and they get on with their business, rather than perhaps pointing the finger at the market as being the cause of the problem.”

    Keogh said the lack of transparency in water led to accusations of market distortion and misbehavior.

    The Scott Morrison government is yet to announce its response to the recommendations, some of which would require legislation.

    The inquiry looked at eight million transactions between 2012 and 2019, highlighting fragmented and inconsistent water market information.

    While other markets have a wealth of quality information, water trades lack similar requirements. (Dean Lewins/AAP Image)

    Keogh said he was “reasonably confident” there was no evidence of price manipulation, insider trading, collusion, or market power abuse between 2017 and 2019.

    But he reiterated the difficulties in putting together a comprehensive database.

    Some deals didn’t have a value or a strike date, while others lacked proper identification of who was involved and were worth unusual amounts.

    Keogh listed valid reasons for some of the issues but said it was impossible to regulate properly without solid information.

    The coalition government has consistently championed the basin’s interim inspector-general as a “tough cop” on compliance.

    But Keogh said the role was about ensuring states complied with agreements rather than policing the water market.

    He also said there needed to be greater certainty about government announcements relating to water, similar to companies informing the stock exchange about market-sensitive changes.

    (Edited by Vaibhav Vishwanath Pawar and Praveen Pramod Tewari. Map by Urvashi Makwana)



    The post Opaque Water Trade Market Fuels Suspicion In Australia appeared first on Zenger News.

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    zenger.news
    • Website

    Related Posts

    Emmett Till National Monument May Be Removed Under Trump Admin

    June 28, 2025

    Black Americans Face Unequal Burden as U.S. Inches Closer to War

    June 22, 2025

    Juneteenth! Freedom Day

    June 19, 2025

    Emmy-winning journalist launches Juneteenth series

    June 19, 2025

    Donald Trump is the first president in 116 years to not be invited to the NAACP convention

    June 16, 2025

    The Department of Education is Collecting Delinquent Student Loan Debt

    April 29, 2025

    Comments are closed.

    Business

    Charlotte Knight Griffin Takes Office as TBA President-Elect

    June 30, 2025

    EXCLUSIVE OP-ED: President Joe Biden Commemorating Juneteenth

    June 19, 2025

    FUNdraising Good Times Report from Neighborhoods USA Conference in Jacksonville

    June 4, 2025
    1 2 3 … 384 Next
    Education
    Education

    Austin Peay’s MPH program receives $27K for childhood literacy initiative. Community LIFT Project to be implemented at Head Start centers this fall

    By Ethan SteinquestJune 30, 2025

    CLARKSVILLE, Tenn. – Austin Peay State University’s Master of Public Health program is on a…

    TSU, State, reach agreement to reallocate $96M to school

    June 26, 2025

    TSU student lands prestigious internship at Harvard Medical School

    June 25, 2025

    FAMU stakeholders file lawsuit to prevent Marva Johnson’s confirmation as the university’s 13th President

    June 21, 2025
    The Tennessee Tribune
    Facebook X (Twitter) Instagram
    • About Us
    • Digital Subscription
    • Store
    • Advertise With Us
    • Contact
    © 2025 The Tennessee Tribune - Site Designed by No Regret Media.

    Type above and press Enter to search. Press Esc to cancel.

    Our Spring Sale Has Started

    You can see how this popup was set up in our step-by-step guide: https://wppopupmaker.com/guides/auto-opening-announcement-popups/