Do you wish to obtain sugar live rates? Here, we explain to you how an API can help.
Sugar is extremely important in the world’s industry since it’s the principal carbohydrate in the majority of sweet meals. Because of this, it may be found in a multitude of forms in our daily lives. This helps to grow its demand, which made its output increase by 14 percent between 2009 and 2018. As a result of all of this, we can plainly see that sugar is a terrific investment; you just have to do it well.
If you invest in this sort of stuff, you should understand how critical it is to keep up with daily price changes. This might be the event that shifts the trajectory of your assets. If you do not monitor the commodity and observe how it performs in the market, you may end up with poor outcomes and lose money.
Knowing this, if you wish to develop your business or consider investing in sugar, you need to be updated on its price almost every hour. This may be done by leveraging an API, which is an interface that receives data from a location and then returns it to the person who performed the API request. This is prevalent on many websites and is really useful when you require up-to-date information right away.
How To Use An API
To get an API that provides this information, you must first find software that does. There are a lot of them available online, but they all work differently. As a result, you should proceed with caution while purchasing software to prevent wasting time and money.
For this example and to explain how APIs work, we’ll utilize Commodities-API, which we feel is the most complete one available online. This is a free public API that provides commodities rates in several currencies, such as coffee, rice, and sugar. It has a precision of 2 decimal points and over 170 currencies to choose from, making it the most useful tool available at the moment.
To get the API with spot pricing, you must first do the following:
- Go to www.commodities-API.com and sign up to get your own API key.
- Look for the sugar (SUGAR) and currency symbols.
- 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 provide an API in a number of computer languages, which you may alter and use anyway you see appropriate.
The answer will be something along the lines of:
{
"success": true,
"timestamp": 1519296206,
"base": "SUGAR",
"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 About This Software
Commodities-API is a straightforward and dependable API that provides commodity pricing, currency and price conversions, historical data, lease contracts, and other services. You no longer have to be concerned about data dependability or accuracy. You may use this extensive API to trade, monitor markets, and discover what the next big commodity will be.
It is software that gathers data from banks and the stock market, making it completely dependable. When you make an API request, it returns results with a precision of 2 decimal points and in a variety of programming languages for you to utilize. Furthermore, to protect your connection, this software employs bank-grade 256-bit SSL encryption.
Check Get Historical Sugar Prices API
Also published on Medium.