Investors now can bet on Californiaâs water, helping agriculture withstand dry spells California grows all almonds sold in the U.S., but the highly profitable crop takes millions of gallons of water to produce. (Source: CNN) By Kevin Pirehpour | February 24, 2021 at 12:07 PM MST - Updated February 25 at 12:57 PM
Climate change and extreme weather events are forecast to further reduce water supplies in the American Southwest, and a new futures market could allow water users to recoup losses if the price of water spikes.
The futures market is the first of its kind, allowing investors and farmers alike to bet on how much water in California will cost on a future date.