Do you want to join to the sugar market but you don´t know how to achieve it? Then this post could help you to have a couple of ideas to stay informed about the changing prices of sugar rates.
Sugar is one of the most consumed staple foods in the world. Although in this last cycle there was an increase in the consumption of sugar per ton, in the remainder of 2021, the prices of this product have increased enormously due to the lower production in Brazil. This ensures that sugar prices are relatively high for the rest of this year.
So, before you enter the sugar business, you should be aware that it is a very unpredictable commodity that is influenced by a variety of variables. Here are a few examples:
- Weather, this can negatively or positively affect the fertility of the land. A drought could ruin the annual production as happened in Brazil in this last cycle.
- Assistance from the government, the governments subsidies and tariffs safeguard local sugar producers but they also can cause market disruption by artificially raising supply and lowering prices.
- Global supply and demand, when the demand is projected to be high, farmers plant more crops, and when demand is expected to be low, farmers grow less crops. If global demand exceeds or falls short of supply, sugar prices will be influenced.
- Concerns about health, another factor could be the pressure produced in the state health sectors about taking action in response to obesity rates, which might involve taxes or limitations, resulting in lower consumption and pricing on the sugar.
If you’re still interested in putting your money to work in the sugar market, we recommend using Commodities-API, an online API that delivers real-time data on commodity prices such as rice, sugar, and wheat.
What Is An API?
API is the acronym that corresponds to Application Programming Interface, thanks to this, computer programs communicate with each other. The main function is to save time and money, lightening the work done by developers.
How Does It Work?
Commodities-API data can be sent to you in whatever currency you desire, with a precision of 2 decimal points, from a broad range of over 170 possibilities. You can also get 60-second data updates and conduct 100.000 API requests every month. To get the data, first log in to the website, get an API key, and then choose the currency or metal you want. After that, make an API call and seek out the most recent price of sugar, the website will give you with an API in a variety of computer languages, which you may change and use in any way you see fit.
And that´s all!
If you want more information, check the website here.