Do you want to invest in the sugar business? Did you know that Canada has one of the lowest investment prices? Read this post about this API that will help you stay informed with the costs of sugar and the Canadian currency!
Sugar is a sweet crystalline material made primarily of sucrose and derived from several plants, including sugar cane and sugar beet, and used as a sweetener in food and drink.
Sugar is a simple carbohydrate which supplies your body with energy in the form of calories. Sugar is divided into two categories. Whole, unprocessed foods contain natural sugar. Fruit, vegetables, dairy, and some grains are examples. Fruit contains fructose, a natural sugar.
Due to its presence in almost every meal, sugar consumption in the world reached 172.6 million metric tons in 2018/2019, and is expected to rise to around 171.8 million metric tons by 2020/2021. Sugar is now cheaper and more widely available than ever before, because to increased global commerce and improved farming techniques, among other factors.
Countries like Canada that produces approximately 1.2 million tonnes of refined sugar annually, are going to be very important in the market economy. Approximately 94% is refined from raw cane sugar imported in bulk to cane sugar refining operations in Vancouver, Toronto and Montreal. The balance is refined beet sugar from domestically grown sugar beets in Alberta. Over 85% of Canada’s refined sugar is sold to the food industry and about half of that sugar is exported in food products sold to the U.S. and other foreign markets.
Due to the level of export and production of sugar that they handle, economic specialists work with Canadian dollars when looking to invest in sugar in the North American region. To measure what is or is not worth investing in, they use Commodities-API
What Is Commodities-API?
It’s a free online API service that provides real-time commodity information, such as coffee, rice, and maize. Commodities-API, on the other hand, offers an exchange in any currency, with two decimal places of precision and a list of 170 market goods. In fact, if you want to check how previous months or years’ statistics were, it has that information as well, so you can choose the best way to finance your money and move in the market.
How Does It Work?
It is incredibly simple to use. Three simple steps must be followed:
- Visit www.commodities-API.com for further information.
- Obtain an API key.
- Find the items (SUGAR) and currency that you want.
After that, the API will be supplied to you in the form of a JSON script, which you may use anyway you like.
Where Do They Get The Information From?
Commodities-API obtains its data from fifteen highly dependable sources, such as banks and financial markets, which send data every minute.
Can I Get Information From Previous Months?
Yes, “historical rates,” which have been available for most currencies since August 2021, are accessible. By attaching a date (format YYYY-MM-DD) to the basic URL, you may query the Commodities-API API for historical rates.