Australia's $50 billion water market is booming, drawing global investors and offering farmers flexibility, but ongoing scarcity and record-high permanent plantings are raising the stakes of the next drought.
Australia has one of the few markets in there world where water rights can be separated from land, capped and traded, something that still causes angst in parts of the farming community, National Farmers Federation water committee chair and Finley dairy farmer Malcolm Holm said.
"But in essence, what it's enabled the whole thing to do is actually give farmers and industries flexibility," Mr Holm told AAP.
