Using a commodities prices api has never been easier! Try out this one to get future prices of cotton in 2022
Cotton: Characteristics & Facts
Cotton is a fluffy staple fiber that forms in a protective covering around the seeds of cotton plants. Cotton is a staple of our daily lives (just look at the label on your clothes!) and the source of income for 100 million rural households in 75 countries around the world.
However, cotton producers in many countries are pretty much giving up their shirts due to price wars and living below the poverty line. Cotton is the most important crop in the global textile industry, which is not surprising.
Cotton is all about the world market price, which often leads to a number of complications for a commodity that is in such high demand. Currently, cotton production is estimated at 25 million tons or 110 million bales annually, which is 2.5%.
Countries such as New Zealand, which is one of the new producer countries, are pushing their farmers to continue harvesting atypical and organic products, as evidenced by the new economic interest of investors in cotton production by small family farms.
If you are looking to invest in New Zealand smallholder cotton farmers, these three APIs can help such as Commodities-API
What is Commodities API?
Commodities-API is, as the name suggests, an API. That is, it is the shortened version of Application Programming Interface, and it specifies an interface that allows two programs or systems of different types to communicate with each other.
This API collects price information every minute from more than 15 reputable data sources, such as financial organizations and banks, which vouch for the accuracy of the data. All cotton data is sent in real time with an accuracy of two decimal places and a frequency of up to 60 seconds. In other words, these features allow you to get up-to-date prices and study the data to determine the best time to buy cotton.
Follow these steps to check commodities prices api:
-Go to www.commodities-API.com and fill out the form.
-Then create a key for the API. Fill out the registration form with your data, and then choose a plan.
–Commodities-API now offers three plans: free, basic and professional. Take a close look at the differences between each plan.
– Once you have completed the above steps, select the symbols for the commodity whose prices you want to display (in this case cotton), and then the currency in which you want to display the values. There are a total of 170 currencies available.
– Once you have made your choice, make the API call.6- You have the choice of using JSON or PHP as your programming language.
More about this API
Currently, it works with a total of 15 data sources (including the World Bank, Euronext, CME Group), which ensure 100% accuracy of the information provided. In addition, the Commodities API is encrypted with bank-grade 256-bit SSL encryption.
We encourage you to visit the website and read the documentation on how to use this service. If you have any questions, please contact Commodities API Customer Service or send an email to [email protected].
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Also published on Medium.