Do you want to get ethanol rates in different currencies? Do you want to know why the CAD currency is the best option? Read this article!
Ethanol is a colorless liquid with a strong and burning odor produced by the distillation of sweet or starchy fermentation products such as grapes, molasses, beets, potatoes, or corn. It’s found in a variety of drinks (wine, brandy, beer, and so on) and is mostly utilized as a disinfectant or fuel.
Ethanol is a renewable transportation fuel produced in agricultural-livestock countries. This fuel is a mixture of gasoline and ethanol, so its derivatives are named after the percentages in which this liquid is present: E10 (10% ethanol, 90% gasoline), E15 (15% ethanol) or E85. (85% ethanol, 15% gasoline). The good thing about this new fuel is that the mixture of gasoline and ethanol helps reduce the emission of polluted gases to the ozone layer since they burn more cleanly and evaporate faster, making it less harmful to the air and the soil. In some regions, this fuel is known as ecofuel.
Although it is ecologically good, its price varies in relation to the percentage of gasoline present in the mixture, its location and fluctuations in the energy markets. For example, E85 is usually cheaper per gallon than gasoline, but slightly more expensive per mile. This is basically because the price of ethanol until very recently has been lower relative to gasoline, which means that ethanol is a price competitive component of gasoline blends.
The United States of America is the world’s leading consumer of gasoline ethanol. In 2021, the United States of America consumed 949.23 million barrels of gasoline ethanol per day. Brazil, China, Canada, and India round out the top five countries.
Take the example of Canada, it is estimated that Canada will produce 1.83 billion liters of fuel ethanol this year, up from 1.75 billion liters in 2021. Imports are expected to reach 1.37 billion liters this year, down from 1.39 billion liters in 2020.
Due to this prediction in the market, many investors are expected to bet on eco-fuel this year. For this, those specialized in the economy use APIs that allow them to obtain metrics and economic analyzes from previous years such as Commodities-API.
What Is Commodities-API?
Commodities-API began as a basic, light-weight Open-Source API for current and historical commodity rates issued by banks and stock exchanges. The API can supply real-time commodity data with a precision of two decimal points and a frequency of up to every 60 seconds. The site can give exchange rates for practically any commodity, precious metals, single currency conversions, Time-Series data, and volatility data, among other things.
How Is It Used?
- Create an account.
- Search for symbols that match your search, like ETHANOL for commodity and CAD, for currency.
- Send them an API request with your chosen metals as symbols and your specified currencies as base currency.
Where Does The Information Come From?
Every minute, our API collects data on commodity prices from over 15 credible data sources. Banks and financial data companies are among the sources.