Rice is a cereal grain that is consumed by almost half of the world’s population, mostly in Asia, Latin America, and Africa. Furthermore, it is the agricultural commodity with the third-highest global production, after only sugarcane and maize, and China it’s the country that most rice produces. In 2019, China produced more than 200 million tonnes of rice, followed by India, which produced 177 million tons.
It comes in several varieties, including arborio rice and basmati rice, and it is the main ingredient in meals such as sushi and risotto, which reflect communities and cultures. Rise is also extremely beneficial to the human body since its proteins include antiviral, antibacterial, and antifungal properties. Furthermore, it aids in the reversal of anemia.
Given the importance of this commodity to the entire world, you must be aware of its pricing in various currencies if you want to enhance your business or are contemplating investing in the sector. This may be accomplished via an API, which is a connection that allows two computers or programs to communicate with one another.
However, you should be aware that its price swings on a regular basis, making it difficult to tell how it acted at different points in time. While an API can give real-time pricing, not every application can provide historical rates.
In any case, obtaining a historical price is not impossible. We strongly recommend that you use Commodities-API for this purpose. This is a free online API that gives commodity prices for a variety of commodities such as coffee, rice, sugar, and wheat, to name a few. This information may be provided in whatever currency you choose, from a vast selection of over 170 choices, with an accuracy of 2 decimal points. You may also get updated data every 60 seconds and 100.000 API calls per month.
How Does It Work?
To access the data, you must first log in to the website, obtain an API key, and then pick the currency and metal you wish to obtain. That’s all there is to it, and you may use the API anyway you see fit.
Commodities-API employs JSON API, or JavaScript Object Notation, an encoding method that eliminates the requirement for each application to write its own ad-hoc code in order to connect with servers that communicate in a predetermined manner. The JSON API module includes support for entity types, bundles, and fields, as well as data storage and data structures.
Where Does The Information Come From?
Commodities-API obtains data from banks and the stock market, so you can be confident that the information you will get is trustworthy and secure. Furthermore, to secure your connection, this software employs bank-grade 256-bit SSL encryption.
Currency and commodity price conversions are provided by the same API endpoints and may be used to convert any amount from one currency to another, or from one commodity to any commodity, or from any currency to any currency.
Also published on Medium.