Do you know which are the best commodities to invest in Europe? Do you want to obtain precise data of these? Do it through this commodities rates API!
A commodities exchange is a legal institution that establishes and enforces trading rules for standardized commodity contracts and related financial products. A commodities exchange is also the actual location where trade takes place. The commodities market is huge, with trillions of dollars traded every day.
Commodities or basic commodities are things that may be used for commercial purposes; nonetheless, the most crucial feature of these products is that they lack any added value, method, or difference from other products on the market.
Livestock (including dairy), cereals, vegetables, wine, fruits, and sugar dominate EU agricultural production. Grain (wheat and barley) is a major export commodity, as are dairy products, chicken, pig, fruit, vegetables, olive oil, and wine.
On one hand, countries like Russia, France, Ukraine, and Germany are the biggest wheat producers in Europe. The United Kingdom, Poland, Romania, and Spain are all big manufacturers.
But the majority of sugar beets farmed in the EU are grown in the northern portion of Europe, where the climate is more favorable. Northern France, Germany, the Netherlands, Belgium, and Poland are the most competitive production areas. In addition, the EU has a significant refining sector that processes imported raw cane sugar.
In order of lean hogs futures, countries such as Germany (5.2 million tonnes) and Spain (4.6 million tonnes), followed by France (2.2 million tonnes), produced the most pig meat in the EU in 2019. These three nations account for more than half of overall EU output.
To keep up to date with the prices of these different commodities, investors use different platforms such as the following:
Commodities-API
Commodities-API It is a transparent and open API that controls the price of basic goods such as beef, oil, rice, coffee, and sugar. The website is simple to use: obtain an API key, then select the appropriate currency and product to obtain the data. The API may then be used in any way you desire.
Commodities-API offers its consumers data in any currency they choose, with an accuracy of two decimal places, from a pool of over 170 possibilities. Every month, you may perform up to 100,000 API queries and receive data updates every 60 seconds.
Barchart
Barchart is a global fintech firm that provides market data and services to the financial, media, and commodities industries. He was a pioneer in the development of websites that provide futures and commodities market data. While its media brands provide web content, news, and magazines to help financial and commodities professionals make choices, Barchart’s has data software, and technology solutions power the operations of its diversified customer base from the front end to the back end.
CommoPrices
The CommoPrices API gives access to over 10,000 commodities and indices’ prices and values. The data can be updated on a daily, weekly, or monthly basis, depending on the user’s preferences. A market’s mobility is determined by the amount of data it contains. You may find out more about a product by searching it on their website.