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NCDEX to launch 2 rainfall-based indices today

Wednesday, Jun 10, 2020

 

MUMBAI – The National Commodity & Derivatives Exchange, in partnership with Skymet Weather Services, will today launch two rainfall-based indices, the exchange said in a release.

 

The Indian Monsoon Index is a cumulative monsoon index and the Indian Rain Index is a monthly cumulative rainfall index. Both will track rainfall movement in the country systematically.

 

The two will be representative indices and will not be available for trading.

 

"The monsoon-based indices…will be a great boost to help our agriculture value chain and can be used as a hedging tool to mitigate their risks," Vijay Kumar, managing director of the exchange, was quoted as saying in the release.

 

On Jun 2, Cogencis had exclusively reported that the bourse is planning to launch two indicative weather indices.  End

 

Reported by Roshni Devi

Edited by Ashish Shirke

 

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This copy was first published on the Cogencis WorkStation

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