G-MW has increased the Murray system seasonal allocation from 13pc to 17pc for high-reliability water shares, while in the Goulburn system allocation is up from 9pc to 12pc.

However, the seasonal allocations for all other northern Victorian water systems remain at zero.

"The monthly inflows to 15 October have been exceptionally poor across northern Victoria," G-MW managing director David Stewart said.

"Historically, rainfall during October has provided beneficial inflows to all of the water systems.

"This year, there has been very little rain and the inflows are just not there."

Meanwhile, the NSW Department of Water and Energy has announced a general security allocation in the Murray Valley of 2pc and an increase of 15pc to high security, town water supply and stock and domestic allocations, bringing them to a total of 95pc of entitlement.

"This increase has occurred because of the recent good rains in the upper catchments, which improved the water resources available from the Snowy system," the Department's deputy director-general David Harriss said.

"While the general security allocation is very low, it is good to at least have a number on the board in the Murray Valley.

"This is the first general security water allocation these license holders have had since 2006."

In the Murrumbidgee Valley, general security allocations have increased by 4pc to 9pc of entitlement, with 7pc available now and 2pc deliverable after February.

In addition to today’s allocation increases there is sufficient water available to provide for the basic conveyance needs within the areas of operation of Murray Irrigation, Murrumbidgee Irrigation and Coleambally Irrigation.

The increases come just a day after Waterfind said an expectation among growers of an increased allocation announcement today may have been responsible for yesterday's sudden 13pc drop in water prices for the Murray and Murrumbidgee markets.