ACCC investigates water hike

The ACCC has been called in to investigate investment companies that are buying up water and then selling it to drought-hit farmers for a profit.

The companies have water rights in the Murray Darling Basin even though they don't own land to use it on.

One of those companies enjoyed a profit increase of more than 250% last year and water minister DAVID LITTLEPROUD says that needs to be looked at.