AgricultureLAUNCHLaunched
NCDEX launched exchange-traded rainfall futures contract for Chennai (RAINCHNNAI)
Chennai, Tamil Nadu31 Aug 2026
NCDEX launched an exchange-traded weather derivatives futures contract on Chennai rainfall, branded as RAINCHNNAI. The cash-settled contract is based on observed rainfall data and uses a cumulative deviation rainfall model referencing IMD long-period averages and rainfall at Chennai’s Meenambakkam and Nungambakkam stations.
Why it matters
It provides a standardized way for market participants to hedge financial exposure linked to North-East monsoon rainfall variability in Chennai.
NCDEXIndia Meteorological Department