If you want to access Palm Oil pricing in USD, using an API is probably the easiest way to do so. Read this article and learn how to do it.
Palm oil is a vegetable oil made from the fruit of the oil palm tree. It is used in the production of food, cosmetics, and biofuel. Furthermore, palm oil accounted for almost 33% of all global oils produced from oil crops in 2014.
Crude palm oil and palm kernel oil are the two types of oil that can be created. Squeezing the fleshy fruit yields crude palm oil, whilst crushing the kernel, or the stone in the middle of the fruit, yields palm kernel oil. Despite the fact that Indonesia and Malaysia produce more than 85% of the world’s palm oil, there are 42 other countries that produce it.
Palm oil is found in practically everything, accounting for more than half of all packaged products in supermarkets, including food, personal care, and cleaning supplies. It’s also used in animal feed and as a biofuel in various parts of the world.
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If you’re interested in trading with this type of commodity, you’ll want to stay up to date on market prices. For this reason, we strongly recommend you to use an API, which is a software interface that acts as a link between two machines, allowing them to communicate and share data.
To get access to an API, you’ll need to first find software that supports it. Given how quickly the industry develops, the bulk of them are highly valuable and can make your job easier. However, not every program can give you Palm Oil rates in USD.
But don’t worry! There is an amazing API that could be very useful if you want to be updated with palm oil prices: Commodities-API.
How does Commodities-API work?
This program uses an API to get data from banks and the stock market, making it completely trustworthy. This data, which is accurate to two decimal places and adaptable to JSON, PHP, and Python, is then sent to you. Furthermore, Commodities-API uses bank-grade 256-bit SSL encryption to secure your connection.
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Rice, wheat, coffee, corn, sugar, Brent crude oil, WTI crude oil, soybeans, gold, silver, and a range of other commodities and all kind of currencies are all supported by Commodities-API.
In this sense, iff you want to track with palm oil rates in USD, you have to do the following:
- By joining up at www.commodities-API.com, you can get your own API key.
- Look for the symbols for Palm Oil and USD.
- Make the API request when you’ve obtained both symbols.
- The website will provide an API in a number of programming languages that you can customize, use, and adapt as needed.
Sign up here and join Commodities-API!
Also published on Medium.