The National Commodity Clearing Limited (NCCL) on May 12, 2026, issued Revision of Lean Periods for Agricultural Commodities.
NCCL has revised the lean periods for various agricultural commodities in the commodity derivatives market, in reference to SEBI’s Master Circular (August 04, 2023) and earlier NCCL circulars on lean periods and risk management. Lean periods are specific months during which trading conditions and risk parameters may be adjusted due to lower market arrivals or liquidity in the underlying commodities.
As per the revised framework, different commodities have been assigned updated lean periods, such as Bajra, Groundnut, Guar Seed, and Guar Gum from July to September, Barley and Coriander from January to March, and Jeera and Isabgol from December to February. Certain commodities like Refined Castor Oil and Cotton have been specified as having no lean period, indicating normal trading conditions throughout the year.
These revisions are intended to enhance risk management and align trading practices with seasonal patterns in agricultural production and arrivals. Market participants are advised to take note of the updated lean periods for effective planning and compliance with applicable trading and risk norms.
[Circular No. NCCL/RISK-025/2026]
