Try out this commodities price api and get rough rice prices in a click!
Commodities are physical or financial instruments that have the most direct connection to the production, consumption of goods and services. These include things such as oil, gas, rice and others.
Commodities In the World:
Commodities are goods that can be traded on the free market. Commodities are produced in large amounts and are traded around the world. The main difference between a commodity and a product is that a commodity has no brand name or logo whereas a product does. Other examples of commodities include crude oil and corn.
Rice is a commodity because it’s traded on the world market, and rice producers and consumers are relatively small. This is a commodity because it is traded in a market; it is grown, processed, and consumed in many countries. It is a globally traded good and its price fluctuates with changing supply and demand conditions in the marketplace.
Rice is also a bulk commodity. That is why it has low transaction costs and high mobility. The supply of rice changes from season to season, so farmers sometimes have more or less than they need. Consumers eat rice all the time, so they need to buy it regularly.
The rice market price is naturally high and volatile. The price of rice in the world is mainly determined by three kinds of factors: 1. productivity level; 2. competition level; 3. flooding, droughts (natural disasters) impact on production volume and supply conditions.
If you’re looking to keep updated on the market of rice in the world, we suggest you to try out the following API:
Use a Commodities Price API
If you want to get rice prices, the best option is to use Commodities-API.
This service allows you to retrieve data from 15 sources, including banks and the world’s main financial centers. Its main feature is its impressive speed; in fact, it is so fast that we can get updated data every 60 seconds with an accuracy of 2 decimal places.
In times of economic instability and high volatility, the timeliness of rates helps us save a lot of money. The options include the delivery of exchange rates for almost all commodities, the conversion of individual currencies, the return of time series data and fluctuation data. As additional information, you can also create charts to analyze the information more easily.
Follow These Steps & Use It:
– Go to www.commodities-API.com.
– Generate the API key.
– Register with your data and then choose a plan. Currently, Commodities-API has 3 plans, free, basic and professional. Take a good look at the differences between each one.
– When you finish with the above, select the symbol of the raw material you want (corn, wheat, ethanol, oil for example) and then, choose in which currency to see your prices. There are 170 coins available.
– Once selected, make the API Call.
-As a programming language you have the option of using JSON or PHP.
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