Are you looking for a way to get palm oil live rates? Use an API!
Palm oil is a vegetable oil derived from the mesocarp of the oil palm fruit. This one grows only in the tropics and produces high-quality oil, which is mostly used for cooking in developing countries. It’s also present in foods, detergents, cosmetics, and, to a lesser extent, biofuel.
With 34.5 million tons produced, Indonesia is the world’s largest producer of palm oil (2016 output). By 2019, this amount had climbed to 51.8 million tons, with 60 percent of the output exported as crude palm oil by the end of 2010. By the end of 2030, this country hopes to have more than tripled its output.
Meanwhile, in 2018–2019, the global production of palm oil was 73.5 million tonnes.Its annual production is estimated to reach 240 million tonnes by 2050. As a result of this expansion, plantations are spreading across Asia, Africa, and Latin America. So, we can clearly see how good of an investment palm oil can be.
To do so, you must remain current on all sorts of rates in order to predict how the product will act in the future. This is where an API comes in, since it can be utilized by a variety of websites or blogs to provide real-time data to every visitor.
But what exactly is an API? This is a system that collects data from a location and then sends it to the person who asked for it. You may use this to acquire information from anywhere on the internet and utilize it for your own needs.
Where Can I Find An API?
Creating an API is a difficult task that may cost you a lot of money and effort. There are, however, a few softwares available online that can give you with it and make your task easier. However, you should be aware that not all of them operate in the same manner or provide the same information.
Having that in mind, you should find a good API that gives you palm oil live rates. To save you time, we recommend you use Commodities-API, a company that is dedicated to providing you with the tools you need to create applications for over 40,000 global commodities and multiple currencies.
To use it, you need to:
- Visit www.commodities-API.com and log in. You will subsequently be given your unique API key.
- Look for Palm Oil with the desired currency symbols.
- Using these symbols, search for the commodity and money in the list. You can make the API call once you do this.
- The website will provide an API in a variety of computer languages that you may change, use, and adapt as needed.
The result will look something like this:
{
"success": true,
"timestamp": 1519296206,
"base": "CPO",
"date": "2018-09-10",
"rates": {
"GBP": 0.72007,
"JPY": 107.346001,
"EUR": 0.813399,
}
}
About Commodities-API
Commodities-API is software that gathers data from banks and the stock market, making it completely dependable. When you make an API request, it returns results with a precision of 2 decimal points and in a variety of programming languages for you to utilize. Furthermore, to protect your connection, this software employs bank-grade 256-bit SSL encryption.
Commodities-API makes all of these possible through customized Security, Pricing and Endpoint Management solutions and white-labeled software. This guarantees that your transactions, transactions history and statistics will be accurate and fast.
Also published on Medium.