Do you want to obtain cotton rates per pound? Use an API!
Cotton is something that we’ve all seen a million times throughout our lives. You may be ignorant of the significance of this product to the global economy. In 2019, China produced the most cotton, at 24 million tons. India was second with 19 points, while the United States was third with roughly 19 points. This emphasizes the necessity of investing in this product on a global scale.
This plant is also known as “white gold” because it is resistant to flooding and has therefore become a dependable source of long-term income in places most affected by climate change. Furthermore, this product comprises a number of processing steps, which aids in the creation of employment and the improvement of industrial infrastructure.
This commodity’s most frequent unit of measurement is per pound (or per lb). The pound is a unit of mass used in the imperial and customary measuring systems of the United Kingdom and the United States. It is also known as the pound-mass. The most often used term today is the international avoirdupois pound, which is technically defined as 0.45359237 kilograms split into 16 avoirdupois ounces.
So, if you invest in this type of thing, you should understand how important it is to be up to date on daily price adjustments. This might be the event that changes the course of your investments. You may end up with terrible results and lose money if you do not watch the commodity and see how it performs in the market.
This may be accomplished through the use of an API, which is a user interface that accepts data from a location and provides it to the person who made the API call. This is common on many websites and is quite beneficial when you need up-to-date information right away.
But What Exactly Is An API?
When you send a request to an API (or, more precisely, make an API call), you will receive data within a few seconds. This response is supplied in a number of computer languages, including JSON, PHP, and Python, depending on the API you use.
If you’re looking for cotton rates per metric ton, we feel Commodities-API, a free web API that provides real-time data on commodity prices such as coffee, rice, sugar, and wheat, among others, will be extremely beneficial.
To make use of it, you must perform the following:
- Go to www.commodities-API.com to get your own API key.
- Locate the symbols you want to submit to the test (COTTON and the currency you desire)
- Using these symbols, locate the commodity and money in the list. After you’ve settled on them, make the API call.
- Look for the most recent pricing. The website will give you with an API in a number of computer languages, which you may modify and use anyway you see fit.
As a result, the ultimate outcome will be as follows:
{
"success": true,
"timestamp": 1519296206,
"base": "COTTON",
"date": "2018-09-10",
"rates": {
"AUD": 1.566015,
"CAD": 1.560132,
"CHF": 1.154727,
"CNY": 7.827874,
"GBP": 0.882047,
"JPY": 132.360679,
"USD": 1.23396,
[...]
}
}
More Information About This Software
Commodities-API can provide real-time commodity data with a 2 decimal point precision and a frequency of up to 60 seconds. Exchange rates for practically every commodity are available, 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 are all increasing in price. This API delivers precise commodity and exchange rate data for nearly every commodity, as well as 170 different foreign currencies, including Bitcoin and other major cryptocurrencies.
Also published on Medium.