GREELEY | The price for a share of northern Colorado’s largest water-supply project has nearly doubled this year.

The Greeley Tribune reports (https://bit.ly/183UcJk ) units of the Colorado-Big Thompson Project sold for as much as $18,500 last month, up from $9,500 in January.

Northern Colorado Water Conservancy District spokesman Brian Werner says that marks an all-time high for shares of the project.

Water experts say biofuel production and rising food demand worldwide have led to higher commodity prices, making farmers reluctant to sell their water rights. Water officials say growing cities and an upswing in home building in northern Colorado also might be a factor in the higher prices for units of the Colorado Big-Thompson project.

The region’s oil and gas production also is skyrocketing.