David Fickling, Bloomberg, is not optimistic that water futures will ever become an actively traded market…
“The reason ultimately comes down to abundance, price and weight. The commodities that are most important to financial markets have several common characteristics: They’re used globally but produced at only a few locations; they’re relatively scarce, and thus command a steep price; and their value is high relative to their mass, so that even at long distances the cost of freight is a small proportion of the ultimate price.”
There is more at the link… https://www.bloomberg.com/opinion/articles/2020-12-08/why-water-won-t-make-it-as-a-major-commodity?sref=chUoseeB
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