Are you interested in the sugar market? Are you considering how to get into stock market investments? Read this article on how to use an API to make calculated moves on your investments!
Sugar is a substance with a crystalline appearance and, generally, white in color that is used to sweeten foods. It is a highly marketable product that is extracted from sugarcane plants. Its ingestion in the human body, provides energy reserves. It is believed that, on average, each inhabitant of the world consumes about 24 kilos of sugar per year, although there are great differences between countries.
Around the world, 1,889,268,880 tons of sugarcane are produced per year, with Brazil being the largest producer of sugarcane, followed by India, Thailand, China, the United States, Mexico, Russia, Pakistan, France, Australia.
In fact, the latter country is one of the major exporters in the Oceania and Asia area. The Australian sugar industry produces around 4 million tonnes of raw sugar per year, with 85 per cent of that sugar being shipped to countries such as South Korea, Japan and Indonesia, where it is refined into food-grade white sugar. Many of the sugar processors in the Australian country are of Chinese or Japanese origin, this is because in this country taxes are lower and more annual crops can be produced. To do this, the economic analysts of these multinationals must study the market and analyze the Australian currency and the movements of sugar on the stock market. To do this, use the Commodities-API.
What Is Commodities-API?
Commodities-API is a platform used to obtain data on movements in the stock market through an API, computer software. This website has access to 170 types of currencies and basic products such as sugar, rice, coffee, fuel, among others. It is a very secure site as it has encryption similar to that used by banks. It also has a very precise and fast search result, that is, the data obtained through the Commodities-API have two decimal places of accuracy that can be obtained in less than 60 seconds through the same economic entities.
How Do I Register For The First Time?
Another positive factor is how easy it is to use the platform for the first time. It is very simple to do it, you just have to follow these steps:
- Create an account on the website
- Get an API-key that is unique for each user
- Choose the currency (AUD) and the commodity of your desire (SUGAR).
Can I Access Records From Previous Months?
Yes, it is possible to access reports from previous days, weeks, months and even years. This helps the user to decide what is the best way to invest their money. To do so, you have to go to “history rates” which has reports from 2021. You do this by putting the date (YYYY-MM-DD format) at the base of the URL.
For more information, check their website.