Would you like to start investing in the sugar market? Don’t know how to keep up to date with the prices in the market? Read this post to learn how to use an API that will help you do it!
Sugar it´s a disaccharide product that contains flavour and glucose. It is traditionally a product for food use, aimed at sweetening, and which provides a source of high calories in the human diet. In recent decades, from the point of view of health, there has been a tendency to recommend moderation in the consumption of sugar.
Sugar is a product present in our daily lives, it is present in drinks, cakes and has even begun to be used in ecological fuels. This makes sugar a highly tradable product in the world. About 180 million tons of sugar are produced per year, mostly through countries like Brazil, China and India, which are its largest producers.
For this reason it is a highly tradable commodity and one in which many people choose to invest. But investing in the market always brings its problems, especially in economies that are not stable. Sugar can become a highly volatile product over the course of a year and for that you have to know exactly how to keep up with it and in what currency to do it.
For example, in Argentina, the field began to implement blockchain technologies, used for the exchange of cryptocurrencies, and tokenization to digitize products of the sector. Agrotoken, as the app is called, uses the three most traded types of digital currencies: Ethereum, Bitcoin and Binance. Hand in hand with this app, producers also use platforms such as Commodities-API to stay informed and up-to-date on the prices of these currencies and the basic product in question, in this case, sugar.
What Is Commodities-API?
Commodities-API It’s a free public API that shows you the price of commodities including coffee, rice, sugar, and wheat. The Commodities-API can provide data in whatever currency you choose, with a 2 decimal point precision, from a list of over 170 possibilities. Each month, you may obtain 60-second data updates and conduct 100.000 API requests.
How Is It Used?
Commodities-API it´s very easy to obtain the financial data. Just follow this guide:
- Log into www.commodities-api.com,
- Create your own API key.
- Find the cryptocurrencies of your choice and commodity (SUGAR)
- Make the API call after you’ve decided on them.
That’s all there is to it, and you may use the API anyway you choose.
Is It A Secure Platform?
Yes, the Commodities-API website uses bank-grade 256-bit SSL encryption to secure your connection. Thousands of developers, small family companies, and large enterprises utilize Commodities-API on a regular basis. This API is the most safe site for commodity rates because of its reliable data sources and more than six years of experience.