The sweetener and food preservative known as sugar has been used by nearly every civilization on the planet — including India — for thousand of years.
Sugar is a vital ingredient in the food industry. In fact, it is used to manufacture around 20% of the world’s food. Sugar is known as sucrose and it can be manufactured from either sugarcane or beetroots. The manufacturing of sugar requires a considerable amount of time and effort as well as various other processes, which may include heating via carbonization.
There are numerous sources that you could use to get sugar rates in Indian Rupees. However, not all of them are accurate. The reason for this is the sugar industry is a massive one and it’s complicated enough that an average person cannot understand it unless they’re working in the sugar industry.
If you buy in anything like this, you should be aware of how critical it is to keep track of daily price swings. This might be the event that shifts the trajectory of your investments. If you don’t keep an eye on the commodity and observe how it performs in the market, you can wind up with poor outcomes and lose money.
Knowing this, you must be informed of the price of sugar almost every hour if you want to expand your business or invest in it. That’s why it’s essential to have a reliable source of information, we recommend using an API.
What Is An API?
This is a type of technology that is used all over the world to offer information on whatever you want to know by linking two computers or programs and allowing them to interact. When you submit a request to an API, you will receive a response almost immediately.
This is important for a variety of reasons, including ensuring that your assets continue to increase.
To utilize this, you’ll need to locate software that allows you to access the API every hour. There are a plethora of them available online, but you should select carefully because they do not all function in the same manner or produce the same outcomes.
We propose that you use Commodities-API to save time and money.
Commodities-API
This website gathers data prices in a variety of currencies from a variety of sources all around the world. Commercial sources are used because they provide a more realistic portrayal of market rates, especially for big currencies.
Commodities-API originated as a modest, minimalist Open-Source API for financial institutions’ recent and historical commodity prices.
Reliable
The API can offer real-time commodities data with a two-decimal-point precision and a 60-second frequency. Commodities-API is built on a solid back-end architecture that ensures high availability and quick responses (less than 50 milliseconds) to defined API calls.
Secure
To protect your connection, the website employs bank-grade 256-bit SSL encryption.
Commodities-API is used by thousands of developers, small businesses, and huge organizations on a daily basis. Because of its extensive data sources and 6+ years of experience, this API is the most popular.
Endpoints
The API offers a number of endpoints, each of which serves a different purpose. One of the endpoint features is to get the most recent commodity rate data for all or a specific set of currencies. The API supports converting numbers between exchange rates, retrieving Time-Series data, and obtaining daily fluctuation statistics.
Identical symbols
Most API calls allow you to limit the number of output currencies to a certain set to save bandwidth. Simply enter one or more comma-delimited currency or metal codes in the symbols field of your Commodities-API request.
Example
https://commodities-api.com/api/latest ? access_key = API_KEY & symbols = USD,CAD,JPY
The currencies that the API will respond to for the above request are USD, CAD, and JPY.
Check how to Get Sugar Rates API Using PHP
Also published on Medium.