An independent agency should be established to oversee trading activity in the water markets for the Murray-Darling Basin, according to the Australian Competition and Consumer Commission (ACCC). It’s one of the 29 recommendations made by the consumer watchdog in its 700-page final report (pdf) of the Murray-Darling Basin water markets inquiry. Prime Minister Scott Morrison called for an inquiry into the Murray-Darling water markets in 2019 after wide-spread anger from the local farmers surrounding price concerns during the drought. The inquiry’s recommendations aim to improve current trade arrangements, increase market governance and information flow, and strengthen market design. ACCC Deputy Chair Mick Keogh said that until now, the Basin’s systems and governance had been designed around protecting the environment rather than providing an efficient working market. “There has been a lack of attention to ensuring water trading markets are working fairly and efficiently,” Keogh said in a statement. “With an …