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Mumbai, June 3

THE National Commodity & Derivatives Exchange Ltd (NCDEX) has started displaying on its Web site, from June 1, a rainfall index for Mumbai.

The index encompasses rainfall at both Colaba and Santa Cruz weather stations (Mumbai) and is structured on the basis of past rainfall data, NCDEX sources said.

A higher index would mean that, compared to the cumulative long period average rainfall up to the date of index, there has been more rainfall. A lower index would mean the converse.

To illustrate, based on historical data, the normal expected rainfall in Mumbai (average of Colaba and Santa Cruz weather stations) till June 2, is 28.6 mm but actual rainfall is 0.65 mm (average of 0.5 mm at Santa Cruz and 0.8 mm at Colaba), sources said.

The index value as on June 3is shown as 22.7, which indicates that it has rained only 2.27 per cent of what it should have normally rained by June 2.The NCDEX rainfall index, at any point of time, would tell what percentage of cumulative normal expected rainfall (till the date of the index) it has actually rained. The value is scaled by 1,000 to represent a number.

All historical and current rainfall data has been sourced from India Meteorological Department (IMD).

(This article was published in the Business Line print edition dated June 4, 2005)
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