NCDEX Launches 'RAINCHNNAI' Weather Futures Contract on Chennai's Northeast Monsoon

1 September 2026National

The National Commodity & Derivatives Exchange (NCDEX) launched RAINCHNNAI, a cash-settled weather futures contract tied to rainfall in Chennai's Northeast monsoon. Settlement uses official India Meteorological Department data from the Meenambakkam and Nungambakkam stations. Trading initially covers September, October, November and December expiries, uses a Cumulative Deviation Rainfall (CDR) model measuring deviation from the Long Period Average, and carries a tick size of 1 millimetre with a maximum order lot size of 50 lots. Chennai draws nearly 70% of its annual rainfall from the Northeast monsoon, which runs October to December. RAINCHNNAI complements RAINMUMBAI, launched in May 2026, extending weather-risk hedging across India's June-to-December monsoon cycle.

Static GK

NCDEX, incorporated in 2003 and headquartered in Mumbai, is India's leading agricultural commodity derivatives exchange, regulated by SEBI | Commodity derivatives regulation moved from the FMC to SEBI in September 2015 | The India Meteorological Department, founded in 1875, is headquartered in New Delhi and works under the Ministry of Earth Sciences

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