Water market heats up as a parched California scrambles for supplies
A drought in California has led to a spike in the state’s water prices, nearly doubling the value of futures contracts for the essential commodity this year and creating opportunities in water-related investments. As of Aug. 24, the Nasdaq Veles California Water Index , which represents the weighted average price of water-rights transactions across five major markets in California and is published weekly, has climbed by roughly 87% year to date to $923.54 per one-acre foot.