Do you want to obtain cotton rates in Australian Dollar? Use an API!
Cotton is a material that we’ve all seen a million times in our lives. Because of this, you might be aware of the importance of this commodity to the world economy. China produced the most cotton in 2019, at 24 million tons. India came in second with 19 points, while the United States came in third with around 19 points. This highlights the importance of investing in this product on a worldwide basis.
This plant is also referred to as “white gold” since it is resistant to flooding and has therefore become a reliable source of long-term revenue in areas most affected by climate change. Furthermore, this product includes a number of processing processes, which helps to create jobs and enhance industrial infrastructure.
In Australia, there are around 1,500 cotton farms, with the main production regions being central and southern Queensland, northern, central and southern NSW, northern Victoria, and tiny parts of northern Queensland, northern Western Australia, and the Northern Territory. NSW grows around 66 percent of Australia’s cotton, whereas Queensland grows 33 percent.
Because of biotechnology and developments in precision irrigation and timing, Australian cotton has the distinction of being the most water efficient cotton industry in the world. Long-term monitoring reveals considerable increases in water efficiency in the cotton sector over time. Water-use productivity among Australian cotton producers increased by 40% between 2002 and 2012.
With this in mind, you should definitely invest in this commodity and remain up to speed on its pricing in Australian Dollar. This can be a challenging process, but it can be completed with the help of an API.
More About APIs
This is a technology that many websites employ and may be used for a variety of reasons. To make use of this, you must find software that permits you to access the API once every hour. There are a lot of them available online, but you should be careful which one you choose because not all of them work the same way or offer the same results.
We strongly urge you to use Commodities-API, one of the most beneficial commodity rate tools available, to save time and money. Every minute, this API gets pricing data from over 15 credible data sources, including banks and financial data.
To obtain the API with hourly pricing, you must first:
- Go to www.commodities-API.com and generate your own API key.
- Locate the symbols for Cotton and Australian Dollar. COTTON and AUD are the two.
- Locate the product and money in the list using these symbols. Make the API call after you’ve decided on them.
- Look for the latest rates. The website will provide you with an API in a number of computer languages that you may modify and use anyway you see appropriate.
Why Commodities-API?
Commodities-API can deliver real-time commodities data with an accuracy of 2 decimal points and a frequency of up to 60 seconds. There are exchange rates for almost every commodity, as well as Precious Metals, currency conversion, Time-Series data, and volatility information.
Rice, wheat, coffee, corn, sugar, Brent crude oil, West Texas Intermediate crude oil, soybeans, gold, silver, and other commodities all rise in price. This API provides accurate commodity and exchange rate data for almost every commodity, as well as 170 different foreign currencies, including Bitcoin and other major cryptocurrencies.
Also published on Medium.