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On the relationship between weather and Agricultural Commodity Index in India: a study with reference to Dhaanya of NCDEX

Chinnadurai Kathiravan (), Murugesan Selvam, Desti Kannaiah, Kasilingam Lingaraja and Vadivel Thanikachalam
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Murugesan Selvam: Bharathidasan University
Desti Kannaiah: James Cook University
Kasilingam Lingaraja: Bharathiar University
Vadivel Thanikachalam: Bharathidasan University

Quality & Quantity: International Journal of Methodology, 2019, vol. 53, issue 2, 667-683

Abstract: Abstract This paper proposes to investigate the Co Movement and Causal Relationship, among the three weather factors (temperature, humidity, and wind speed) and the returns of the Agriculture Commodity Index called Dhaanya, in India. The study employed the secondary daily data of weather in five sample cities (Chennai, Mumbai, Delhi, Kolkata and Hyderabad), and Agriculture Commodity Index called Dhaanya, in India. Statistical tools like Descriptive Statistics, Unit Root, Correlation Matrix, and Granger Causality Test were employed. This study found that the temperature and wind speed influenced the investors’ mood in Chennai and Mumbai, in respect of Agriculture Commodity Index, namely Dhaanya. The findings of this study would help the investors in making investment decisions rationally, on the basis of weather condition.

Keywords: Weather factors; NCDEX; Descriptive statistics; Unit root test; Correlation matrix; Granger causality test (search for similar items in EconPapers)
JEL-codes: F65 G02 C1 C58 N2 (search for similar items in EconPapers)
Date: 2019
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Handle: RePEc:spr:qualqt:v:53:y:2019:i:2:d:10.1007_s11135-018-0782-x