Do you wish to obtain live rice prices? Then try using an API.
Rice is consumed by more than half of the world’s population and is mostly located in Asia, Latin America, and Africa. It is the world’s third-most-produced agricultural crop, trailing only sugarcane and maize, demonstrating its significance. In 2019, China produced more than 200 million tonnes of rice, followed by India, which produced 177 million tons.
If you invest in this type of thing, you should understand how important it is to keep up to date on daily price. 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.
Knowing this, you should be aware of its pricing in a variety of currencies if you want to expand your business or contemplate investing in the region. This may be accomplished by utilizing an API, which is an interface that accepts data from a place and then 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 immediately.
How to Get Live Rates
To obtain an API that delivers this information, you must first locate software that does. There are numerous of them available online, but each one operates differently. As a result, you should exercise caution while selecting software to avoid wasting time and money in the process.
We’ll use Commodities-API for this example and to demonstrate how APIs function because we believe it’s the most comprehensive one available online. This is a free public API that gives commodity rates in a variety of currencies, including coffee, rice, and sugar. It offers an accuracy of 2 decimal points and over 170 currencies to pick from, making it the most helpful tool at the present.
To obtain the API with spot pricing, you must first:
- Navigate to www.commodities-API.com and sign up to obtain your personal API key.
- Look for the symbols of rice (RICE) and your preferred currency.
- Locate the commodity and money in the list using these symbols. Make the API call after you’ve decided on them.
- Look for the live prices. The website will deliver an API in a variety of programming languages that you may modify and use anyway you see fit.
The response will be something like this:
{
"success": true,
"timestamp": 1519296206,
"base": "RICE",
"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,
[...]
}
}
About This API
Finally, a simple and reliable API that offers commodities prices, currency and price conversions, historical data, leasing contracts and more. You no longer have to worry about reliability and getting the right data. With this comprehensive API, you can use it to trade, watch the markets or find out what the next big commodity will be.
Commodities API is a software that collects its data from banks and the stock market, making it totally reliable. Once you make the API call, it gives it to you with a precision of 2 decimal points and in different programming languages for you to use. Furthermore, this program leverages bank-grade 256-bit SSL encryption to safeguard your connection.
Also published on Medium.