I Have Some Tulip Bulbs To Sell You Too

RECORD high rainfall in the Murray-Darling Basin has seen the value of the nation's water market slump by 50 per cent, or $1.5 billion, in the past year.

The National Water Commission's annual water market report, released in Canberra this morning, found consistent rain throughout the Murray Darling basin in 2010 saw water holders receive their highest water allocations in six years.

As the amount of water in the system increased, the price for tradeable water allocations dropped from $150 per megalitre in 2009-2010 to just $32 this year.

--Nora