Water is similar to what oil is or once was — undervalued and taken for granted, and consumers could soon pay a real price for it.
Analysts say increased demand for clean water has been driving up the cost, bad news for a world already concerned about rising food prices. Agriculture is the world’s top water user, accounting for an estimated 70% of total global consumption.
The world’s scarcity of clean water is widely known, yet it’s still one of the cheapest commodities in the world.
“Water is so under the radar that cheap doesn’t even begin to describe it," said Kevin Kerr, editor of MarketWatch’s Global Resources Trader. "But one day soon, we will realize that it is one of the most important commodities and quickly becoming one of the scarcest.”
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