Are you a small producer? Do you want to invest in the coffee market? Read this post to learn how to measure metrics and start investing through an API!
Coffee is the beverage obtained from the grinding of roasted coffee beans and the fruits of the Coffeto plant. It is a highly stimulating concoction for our body since it contains caffeine, a natural substance present in several plants, due to this, coffee is the most commercialized product in the world, added to its exquisite aroma.
It is estimated that 125 million people make a living from coffee cultivation, including the 25 million small producers. It is estimated that 400 billion cups of coffee are drunk each year. Therefore, many extremely important economic and social interests are at stake.
The world average production is over 100 million bags. Almost all of the world’s coffee production is obtained in tropical and subtropical areas, mostly developing or underdeveloped countries. In many cases, the export of coffee constitutes an important part of the country’s income, and its production is a great generator of employment.
The largest producer of coffee is Brazil, followed by Colombia, Costa Rica, Ethiopia, Guatemala and Uganda. But some countries with emerging economies like Australia also produce coffee only on a smaller and more local basis, supplying the area where it is grown. In order to stay up-to-date with coffee trading prices, smallholders use the Commodities-API to compare the metrics of the position of coffee and the Australian currency on the stock market.
What Is Commodities-API?
Commodities-API is a website that is based on obtaining data from banking entities through an API, computer software. These data are around 170 products and currencies, such as coffee, rice, sugar, fuel, among others. Commodities-API gives you information with a search range of 60 seconds and a precision of up to two decimal places.
Why Choose This Platform?
Commodities-API provides several factors that we recommend, including:
Ease Of Use
It is very convenient to use. To get started, just follow this quick guide:
- Create an account on their website
- Get an API-key that is unique for each user
- Choose the currency (AUD) and the commodity (COFFEE) of your selection.
Reliable Source
The commodity and currency rate data provided by the Commodities-API platform´s API comes from more than 15 trusted data sources, every minute. These sources are truthful and include sources such as international banks, data providers, and even the World Bank.
Security
The SSL (Safe Socket Layer) encryption used by Commodities-API ensures a secure connection between the client and the server. It’s an internet protocol that lets you encrypt sensitive data (like payment information or credit card information) and make it unreadable to third parties. This is the sort of encryption that most banks utilize.