NCDEX, Skymet takes initial steps towards tradeable weather index

Both companies sign MoU to deepen understanding of weather impact on farm and other goods

India’s leading commodity exchange, National Commodity and Derivatives Exchange (NCDEX), and private weather forecasting company Skymet took a significant step towards launching the country’s first tradeable weather index on Monday by entering into an agreement to deepen their understanding of the impact that weather has on agricultural commodities.

The memorandum of understanding (MoU) between NCDEX and Skymet is a profound step in the direction of linking farmers with the weather in a scientific way, according to an official statement. Sources indicate that NCDEX and Skymet will conduct workshops and seminars across the country to educate farmers about how they can scientifically