Would you like to receive current and live world cocoa market prices? Thanks to undesirable economic instability, commodity prices are at risk of price changes. But with this API, you can prevent these changes. You should know that it is the best commodities rates API.
Cocoa is a plant of the Malvaceae family, native to tropical and subtropical areas. Its official scientific name is Theobroma cacao. The term “Theobroma” comes from Greek, and its meaning is none other than “food of the gods”. The cocoa tree is known as the cacao tree, and it is estimated that it originally comes from the Amazon basin (where there is evidence of its cultivation and consumption for more than 5,500 years). This tree is evergreen, grows from 4 to 7 meters in cultivation (up to 20 in its wild version), and is always in flower. It is also called cocoa the fruit of this tree (a kind of cob that grows on its trunks), or the seeds extracted from it.
The main use of cocoa worldwide is the production of chocolate. However, the diversity of uses of cocoa goes far beyond that. It can be said that it is a plant from which absolutely everything is used. And beyond food production and the confectionery industry, it serves as a raw material for many different uses. Up to seven products are extracted from cocoa itself as raw material for the production of other derivatives such as cocoa butter, cocoa liquor, and cocoa juice, among other uses.
However, cocoa is a commodity and therefore, it is a volatile material and it can happen that a world crisis or a bad harvest can affect the price. Therefore, we recommend you to use the Commodities-API service, which will help you in this task.
Why Commodities-API?
Commodities-API is a service created to gather data and keep you informed on the prices of a wide range of commodities, including cocoa (exactly what you need), rubber, rice, coffee, corn, sugar, wheat, lumber, soybeans, and gas nature. All of the information is updated every 60 seconds with a precision of two decimal places. Every minute, information is gathered from more than 15 trustworthy data sources. Banks and companies that provide financial data are sourced.
Another crucial aspect is that you may view the costs in your country’s official legal tender whether you are from Mexico, Japan, Indonesia, Germany, or India. Many developers, SMEs, and major companies use this service nowadays.
Barrick, Metex, and Chainlink are a few well-known customers. We advise reading the website’s documentation before using this service but don’t worry, everything is quite clear and easy to understand. Commodities-API also provides the option to build charts, allowing you to analyze price changes over time and compare prices with those of other commodities for better analysis.
Finally, you must assume that the cost of this system is high. But no! There is a version where you don’t have to pay anything with a finite amount of “API Calls” in Commodities-API. If you feel that this is insufficient, there are paid plans available that have better features and range in price from $15 to $50 per month. Please do not hesitate to get in touch with customer care if you have any questions.
Also published on Medium.