Now trading of water started in stock market, know everything about it

0
water trading

New Delhi: Like precious metals and crude oil, now water trading has also started in the commodity market. In view of water scarcity, its trading on Wall Street has been started. This means that farmers, investors, and municipalities will be able to trade water. Water is becoming a resource all over the world, the scarcity of which is continuously increasing. According to the United Nations, by the year 2050, around 5 billion people will be affected by water shortages worldwide. The US-based CME Group has launched this Water Trading Contract. A report states that the group has tied up with California’s $ 1.1 billion spot market.

Water trading has started
California was going through an 8-year drought after rising heat in many areas of the US and a fire in the forests. In view of this, water trading was announced in September itself. In the last few years, the price of water in California has increased manifold. This trading has been started on December 7 last week.

water trading

Water index has been decided
CME Group will issue contracts based on California spot water. For this, an index has also been prepared, which has been named NQH2O. CME Group says that the new agreement will help in the management of water scarcity.

US consumes 332 billion gallons of water every day
Let us know that after China, America consumes the most water in the world. According to the United Nations, there are about 2 billion people in many countries who face the problem of water shortage every day. The United States consumes around 332 billion gallons of water every day.

About 71 per cent of the earth is about 326 million trillion gallons of water. However, 96.5 percent of this water is found in the sea. Only 3.5 per cent of water on dharni is fresh water. 69 percent of this is in the form of glacier. Another 30 per cent water is inside the ground. In this way, agricultural, industrial and residential works run all over the world with 1 percent water i.e. 114 million billion gallons of water.

Advertisement