“We believe that the business of food is a critical industry and one that’s growing in importance and potential opportunity for investors,” Ed Lopez, Marketing Director at Market Vectors, said. “So, it is important for us have an index that best reflects the agribusiness industry and one that matches our philosophy of offering ETFs truly constructed for the asset class they are intended to track.”

The Market Vectors Global Agribusiness index is among Van Eck’s new “home-grown” indices. The development of their own indices helps the firm to reduce licensing fees for third-party benchmark providers. [Van Eck Among ETF Firms Using Home-Grown Indices]

On Tuesday, MOO experienced significant trading volume, which coincided with the announcement of the index change.

Over the long-term, the fundamentals favor the farming industry as it is estimated that agricultural output will have to double by 2050 to meet growing global demand. Investors can gain exposure to the growth through MOO and other agribusiness ETFs like PowerShares Global Agriculture Portfolio (NYSEArca: PAGG), IQ Global Agribusiness Small Cap ETF (NYSEArca: CROP) and MSCI Global Agriculture Producers Fund (NYSEArca: VEGI). [ETF Spotlight: Agribusiness]

Market Vectors Agribusiness ETF

For more information on ETF indexing, visit our indexing category.

Max Chen contributed to this article.