Archive · 24 Jul 2026
Mumbai Rain Traded as Futures Contract
Mumbai's rain is now a tradable asset.
A new futures contract called RAINMUMBAI was launched, allowing businesses to bet on how much it will rain.
The contract's value changes based on actual rainfall data from Colaba and Santacruz.
Construction firms benefited from heavy July rains, while those who bet on drought suffered losses.
The contract settles in cash automatically, making it a quick and efficient way to hedge against monsoon risks.
It's a new way for businesses to manage their risks related to Mumbai's unpredictable monsoon.
NCDEX launched RAINMUMBAI, India's first rainfall futures contract, on May 29, 2026.
The contract's value is based on rainfall data from Colaba and Santacruz.
Construction firms benefited from heavy July rains, while drought hedges suffered losses.
The contract settled in cash automatically, providing quick payouts.
RAINMUMBAI is designed to help businesses hedge against monsoon risks efficiently.
- Who
- NCDEX, IIT Bombay, India Meteorological Department
- What
- Launch of RAINMUMBAI, a rainfall futures contract
- When
- May 29, 2026
- Where
- Mumbai, India
- Why
- To allow businesses to hedge against monsoon risks
Construction Firms
Drought Hedges
Rainfall Impact
Construction Firms
Construction firms benefited from the heavy July rainfall as their long positions in RAINMUMBAI futures gained value, offsetting rain-related losses.
Drought Hedges
Drought hedges, which bet on deficit rainfall, suffered losses as the monsoon intensified, causing their positions to decline in value.
- Contract Launch Date
- May 29, 2026
- Initial Price
- Rs 2,120
- Lowest Price
- Rs 1,921 (June 19, 2026)
- Highest Price
- Rs 2,765 (July 7, 2026)
- Rainfall Data Sources
- Colaba and Santacruz
- Contract Settlement
- Cash, based on IMD data
- Historical Rainfall Benchmark
- 30 years of rainfall history
- Long Period Average (LPA)
- 2,206.70