CAI to launch Mobile App for Cotton Traders soon
To help cotton traders with fresh market data, Cotton Association of India (CAI) will be launching a CAI trader mobile app soon. It aims to provide benefit to all its members who deal in the cotton trade. CAI president Atul Ganatra has made this announcement at the CAI Members’ Annual Gala Dinner held in Mumbai recently.
The app will also provide live data of USD/INR exchange rate and ICE cotton futures price in addition to data of BSE and MCX rates.
“We are also trying to publish CAI spot prices and day-to-day arrival information and NCDEX kapas and Khal rates live through this mobile app. That means if you open this app you will have Indian as well as international market idea within 30 seconds. Otherwise, you have to go through many sites to get all those reports. Now the time has changed, and we are in the digital world. So, we need CAI to also move with the time,” Ganatra said.
The app will have calculators and converters and will allow users to easily convert from maund to candy to bale to USC/pound. “The app will also allow you to easily calculate ginning situation and make your own MSP predictions. For example: If you will put kapas rate, cottonseed rate, and expenses, you will get per candy rate automatically in this app,” Ganatra explained.
In addition, the app will have a personal trade book, where a user can record his/her own trades and save them in the app. There would also be a provision to easily send trade summary to others. “The app will also provide you summary of long/short position and average price, giving all traders the critical information at their fingertips,” he added.
The information would only be on a user’s phone and it would not be stored on any server, so other persons would not be able to see the data. The app would be initially available for Android users, and an apple version would be launched in future.
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