April 21, 2024

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NCDEX develops rainfall index – The Hindu BusinessLine

The rainfall index, is a precursor to a climate spinoff that would be introduced subsequently from the NCDEX system.

With southwest monsoon just about the corner, the country’s primary agri-commodity bourse NCDEX on Sunday mentioned it has produced rainfall index, a device to monitor the progress of monsoon.

Immediately after using feedback from industry stakeholders, the trade will launch the rainfall index for investing as a spinoff instrument, it mentioned.

Both of those farmers and commodity traders can consider positions on this index as the instrument can be employed as a hedge in opposition to excessive or deficient rains.

“I believe a rainfall index is an much easier just one to try and might be more suitable to appear at and start publishing. Immediately after we get more feedback, we will appear at other climate parameters,” NCDEX Taking care of Director and CEO Vijay Kumar informed PTI in an job interview.

The layout of the rainfall index is nearing completion, he mentioned.

“After we publish, we will interact with participants and get the feedback in terms of how men and women want to use it and what reward they see and what programs they have. Then we layout the products for investing,” he included.

Kumar mentioned the trade will just supply rainfall information on the index initially. It will be for reference on your own and not a tradable instrument.

The rainfall index, in reality, is a precursor to a climate spinoff that would be introduced subsequently from the NCDEX system.

Very last thirty day period, NCDEX experienced introduced ‘Agridex’ that tracks and replicates the efficiency of the 10 most liquid commodities traded on the NCDEX system.

There has been active trade in Agridex right from the working day just one and more institutional players have shown interest in this products, he included.

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June 07, 2020

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