EICA Releases Cotton Spot Rates

For the past many years, the East India Cotton Association (EICA) has played a significant role not only in the development of all the required infra-structure facilities for smooth and orderly marketing of cotton but also in the service of the textile industry of the country.

EICA has over 400 members representing all segments of the cotton and textile industry of the country; these include farmers, mill buyers, grower co-operatives, ginners & pressers, importers and exporters.

The committee of the association fixes upcountry spot rates for major descriptions of cotton and these are used for claiming differences in invoicing back or in closing cotton contracts. These rates are also used for compiling index for raw cotton.

Source: fibre2fashion.com