Markets
Well-designed markets stimulate innovation and provide investment choices for farmers. The Project will build on new developments in economics to design markets that take account of previously ‘missing' elements, such as environmental and social benefit. Temporary trading of water between irrigators has proved beneficial in supporting profitability when water supplies are scarce. New market approaches can introduce trade between irrigators and the environment. Together with new water products and services better suited to consumer needs, markets can promote dual use of the same water and create new opportunities for efficient and effective use of both environmental and irrigation water.