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Nasdaq Veles California Water Index
Wednesday Apr 28th, 2021
News Reporter With California Ag Today, I’m Tim Hammerich.
As water allocations are slashed due to low supplies, what options do farmers have? California Farm Water Coalition executive director Mike Wade says thousands of acres are likely to go fallow, but better solutions are needed. One tool that has just been created this past year is the Nasdaq Veles California Water Index. But Wade says it’s still too early to tell if this is truly going to be effective in helping growers manage their risk.
Wade… “The Nasdaq Veles California Water Index is an attempt to provide some kind of profit motivation in participating in a water market. It does not trade any actual water. It s simply tracking an index, and allowing people to buy an index at a certain price and hopefully sell it later at a higher price. And their justification is the profit that you would make on your water purchase and sale would provid