Business Standard

Thursday, December 19, 2024 | 05:44 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

NCDEX, Skymet join hands to launch two weather-sensitive indices on Tuesday

While the Composite Weather Index will be seasonal, Rain Index will show daily variations in value, depending on actual rainfall across the country and long seasonal variations

These indices would start at “zero” as base value on January 1 every year. The year will be from June to May. Representative image
Premium

These indices would start at “zero” as base value on January 1 every year. The year will be from June to May. Representative image

Dilip Kumar Jha Mumbai
In a first for India, the National Commodity & Derivatives Exchange (NCDEX) is set to launch two weather-sensitive indices  — ‘Weather Index’ and ‘Rain Index’. The exchange has tied up with private weather forecasting company Skymet to source data points and analyse them to put out a composite value. 

While the composite Weather Index would be a seasonal guide, the Rain Index would show daily variations in the value depending on actual rainfall across the country and long seasonal variations from the same date last year. The value of the Rain Index may turn “negative” in case of a drought. 

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in