NCDEX introduces RAINMUMBAI weather future contracts

NCDEX Ltd. is set to launch RAINMUMBAI – India’s first SEBI-approved, exchange-traded weather derivatives contract on 29, May 2026. 

The instrument will be used to hedge losses from unpredictable weather and monsoon variability. The monthly futures contract is aimed at farmers, construction and power utility companies. A lot of this instrument would cost ₹50 per mm of rain and would be sold in lots of 50 or multiples of 50.  IMD Surface Rainfall and Automatic Weather Stations (AWS) Observations at Santacruz & Colaba will be the source of rainfall data. The derivative will trade between 10:00 a.m. and 11:30 p.m..