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

Dilip Kumar Jha | Mumbai
Last Updated at June 8, 2020 23:37 IST

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

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.

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