It has been revealed that China is the biggest foreign owner of Australian water.
While local farmers are struggling with competition by overseas companies, pushing the prices up, nearly 1.9 per cent of Australia’s 10.5 per cent (or almost six Sydney Harbours) foreign-owned water is controlled by China.
“While China threatens Australia on just about every other front at the moment, they’ve also got both hands on our water.
“Our farmers are being bashed and robbed,” Ben Fordham said.
A number of overseas buyers wait for the increase of demand in water, to only resell it to the highest bidder.
‘When farmers in NSW put their hand up to bid for water, they’ve had to pay $1.30 to have $1 to spend on a licence when taxes are factored in,’ NSW Farmers’ Water Taskforce chair Xavier Martin told the Daily Telegraph.
‘Prices can be very volatile, there was one point where we decided to buy more water but the cost had doubled in a week from $300 a megalitre to $600.’
‘More transparency in the system would really help smaller operators navigate buying water, particularly now after dealing with the drought, bushfires and COVID-19,’ vineyard owner Paula Hanson said, while talking about her first-hand experience of being priced-out.
China is the single biggest foreign owner of Australian water.https://t.co/lt7Ykfeysa
— 2GB 873 (@2GB873) June 23, 2020
China is now the single biggest foreign owner of Australian water, with local companies increasingly having their hands tied in the battle with overseas competitors.
— The Daily Telegraph (@dailytelegraph) June 23, 2020