Are interested in investing in Palm oil? Palm oil is an oil of vegetable origin that gained popularity in the 1980s until it became the oil with the second largest production after soybean oil. It has an important nutritional value due to its components in vitamin A and vitamin E.
Although this plant is native to Africa, 80% of the palm oil market is dominated by Indonesia and Malaysia, who carry out the largest productions of palm oil, reaching projections of 48.5 million tons for 2021 and 2022.
Palm oil is the most important import on the American continent, notably in the markets of Mexico, the United States, and Canada. The Canadian market, along with the US, has become a pillar for palm oil marketing, and its prospects could not be brighter, given that in 2018, Canada enacted a restriction on the use of trans fats in edible items, a feature that favored palm oil over soybean oil.
Now, knowing that palm oil is a business with great investment in the North American continent, specifically in Canada, you have to find a way to inform yourself minute by minute about the prices of this commodities. For this, we recommend Commodities-API which is an API to measure the current rates of raw materials published by banks and the stock market such as sugar, wheat, oil, metals, etc.
How Is It Used?
It’s really simple. First, you have to go to www.commodities-API.com, sign up for an API key, then search for the commodity and currency you want, in this case palm oil and Canadian dollar. After that, you’ll receive the API in JSON format, which you may use whatever you like. JavaScript Object Notation is an encoding approach that eliminates the need for each application to develop its own ad-hoc code in order to interface with specified servers. Entity types, bundles, and fields, as well as data storage and data structures, are all supported by the JSON API module.
Why Should You Choose Commodities-API?
Commodities-API data may be delivered in any currency and to two decimal places, with over 170 alternatives to choose from. Data may be updated every 60 seconds, and 100,000 API queries can be made every month. For They also offer a customer support staff that can assist you with any problems or questions you may have.
For more information, check their website.