Cotton is one of the world’s most traded agricultural products. It’s made in roughly 80 nations and enjoyed all around the world. Its fiber is widely utilized as a textile raw material, and its seed is a major source of vegetable oils across the world. It’s frequently found in our clothing, mattresses, money, or automobiles. Cotton has become an essential commodity for industry and is a part of our daily life.
Because this plant is resistant to flooding and hence has become a stable source of long-term income in areas most affected by climate change, it is also known as “white gold.” Furthermore, this product involves numerous processing processes, which helps to create jobs and enhance industrial infrastructure.
One of the most laborious and time-consuming tasks for an e-commerce business is to get live price data of a product. While each and every industry has its own particular standards, one thing that is common across all businesses is the need for accurate real-time pricing data.
You should be using an API to get live cotton prices because most of the time they are more accurate than the information you’d find on a website. Because many of these sites pull data from third party sources, it can take a while for the most up-to-date pricing to be uploaded. An API will provide you with real-time pricing in no time.
If you buy anything like this, you should realize how crucial it is to stay up with current prices. This might be the event that leads your investments to take a different path. You may wind up with terrible results and lose money if you don’t watch the commodity and see how it performs in the market.
If you’re thinking of investing in anything like this, you should be aware of how important it is to keep track of market values in real-time. To do so, use Commodities-API, a programmatic interface that retrieves data from a location and provides it to the person who made the API request. You might use this site to look up live cotton rates and check how they are performing in the market.
What is the purpose of Commodities-API?
Commodities-API is a service that allows you to follow the prices of a range of commodities, including cotton. You’ll be able to forecast prices and convert them into your selected currency in this manner. This platform also supports rice, wheat, coffee, corn, sugar, natural gas, Brent crude oil, WTI crude oil, soybeans, gold, silver, and a variety of other commodities.
Commodities-API is a software tool that gathers and authenticates data from banks and the stock market. The data is returned to you with a precision of 2 decimal points and in a number of programming languages once you submit an API call. Furthermore, this application uses bank-grade 256-bit SSL encryption to secure your connection.
Also, for currency and commodity price conversions, the same API endpoints are utilized, and they may be used to convert any amount from one currency to another, from one commodity to another, or from any currency to any currency.
What is the mechanism behind it?
You must complete the following in order to obtain live cotton prices:
- To get your unique API key, go to www.commodities-API.com and sign up.
- Look up the symbols for soybeans and the currency you want to employ.
- Use these symbols to find the commodity and money in the list. After you’ve settled on them, make the API call.
- The website will provide an API in a variety of computer languages, which you can change, use, and adapt as needed.
Also published on Medium.