NCDEX has launched a rainfall futures contract linked to Chennai’s northeast monsoon,extending weather risk management tools across India’s monsoon cycle.
The National Commodity and Derivatives Exchange (NCDEX) of India has launched RAINCHNNAI, a rainfall futures contract linked to Chennai’s northeast monsoon season. RAINCHNNAI is based on rainfall data from the India Meteorological Department’s Meenambakkam and Nungambakkam stations in Chennai The contract is now available for trading and is designed to help market participants manage rainfall-related risks during the September to December period. The launch follows the introduct