Do you live in India? Do you need the cotton prices provided by the Bombay Stock Exchange (the largest in India)? Then today is your lucky day! We offer you the best service of commodities rates API.
Cotton comes from cultivated plants of the genus Gossypium. It is planted in spring when temperatures are above 16 degrees Celsius. Cotton seeds germinate 7-10 days but the bud appears about 5-7 weeks after planting, forming flowers. These plants have been cultivated since ancient times for their fibers that are used as textiles. Cotton is a part of our daily lives from the moment we dry our faces on a soft cotton towel in the morning until we slip between cool cotton sheets at night. It has an innumerable number of uses, which range from domestic to industrial purposes.
Like lumber, cotton comes in many varieties and qualities, each suitable for different purposes. Long fluff fibers are used for many things, most of which start with a cotton thread, yarn or fabric. Clothing and bedding are common products. The smaller cotton fibers, known as linters, are removed from the seed and used as filler for furniture and components of linoleum, plastic, and insulation. Cottonseed oil is used in food and cosmetics. The cottonseed hulls are eaten by cattle.
For the second most populous country in the world (India), 1.38 billion people, Indian people and businesses need to be constantly supplied with cotton. To obtain prices, many use different commodity exchanges, such as the Bombay Stock Exchange (BSE), the National Commodity and Derivatives Exchange (NCDEX), among others. But without a doubt, the first option is the most famous of all. If you want to find out BSE prices, the best tool to do so is through the Commodities-API!
Why Commodities-API?
This service started as a simple and lightweight open source API (Application Programming Interface) for current and historical commodity rates published by banks and stock exchanges. For greater peace of mind and comfort for the inhabitants of India, one of these sources of information is the Bombay Stock Exchange (BSE), which certifies the 100% accuracy of the information obtained.
On the other hand, all cotton prices will be obtained in real time with a precision of 2 decimal places and a frequency of up to 60 seconds. In times where international market prices are volatile, being able to have prices updated every 1 minute is very important, to avoid unexpected price surprises. In fact, this service is so used that there are already thousands of developers, SMEs and large corporations, who use it on a daily basis to obtain commodity rates. Companies like Barrick, Glencore, Chainlink, Mansour, are some of his regular customers. And if you’re wondering, cotton prices will be displayed in India’s official currency, rupees.
How much do you have to pay to use this service?
Probably the most important question for some people. First of all, the service is free, but with some limitations, since it does not take full advantage of the Commodities-API capabilities. Don’t worry though, if you need better service, the Basic and Pro plans come with better features. Their prices are 15 and 50 dollars per month, respectively.
Also published on Medium.