NCDEX, whose unlisted shares are currently trading at around ₹382, has expanded its risk management product offering with the launch of a Chennai rainfall futures contract and a five-year strategic partnership with the Cotton Association of India (CAI).

The exchange has launched RAINCHNNAI, a weather derivatives futures contract based on Chennai’s cumulative deviation rainfall from the Long Period Average (LPA).

The contract is designed to help market participants hedge financial risks arising from variations in the Northeast Monsoon, which contributes nearly 70% of Chennai’s annual rainfall.

RAINCHNNAI will have contract months from September to December, with a ₹50 per mm lot multiplier and cash settlement. Rainfall data for the contract will be based on India Meteorological Department (IMD) observations from Meenambakkam and Nungambakkam.

NCDEX Partners With Cotton Association of India

Separately, NCDEX has announced a five-year strategic partnership with the Cotton Association of India (CAI) to deepen participation in cotton derivatives and strengthen price discovery and risk management across India’s cotton value chain.

The partnership is aimed at creating a more robust and transparent mechanism for cotton price discovery and risk management, while encouraging greater participation in cotton derivatives. This partnership will also strengthen NCDEX’s existing Cotton Complex, which includes Kapas, Cottonseed Oil Cake and Cotton Wash Oil.

The agreement was signed by Vikas Goel, MD and CEO of NCDEX, and Vinay Kotak, President of CAI, in Mumbai on September 2, 2026, in the presence of Lalit Kumar Gupta, Chairman and Managing Director of the Cotton Corporation of India (CCI) and senior representatives from both organisations.

Expanding Risk Management Products

The launch of RAINCHNNAI and the partnership with CAI expand NCDEX’s range of exchange-traded risk management products.While the rainfall futures contract provides a tool to manage weather-related financial risks, the cotton initiative focuses on improving commodity price discovery and risk management.