If you want to know how to find out the price of commodities such as coffee and sugar by the hour, then read this article. Here you will find information on how to do it.
Coffee, according to its definition, is the name of the seed of the coffee tree. This is a tree that grows naturally in Ethiopian territory and belongs to the Rubiaceae group. It is between four and six metres high, has greenish opposite leaves, white flowers and red berries.
The seed of this tree, i.e. the coffee, is usually about one centimetre long. It is flat on one side and convex on the other, with a longitudinal groove. Its colour is greenish-yellow. This product is the second most valuable commodity in the world, oil being the first. Coffee has been one of the most important export commodities worldwide. For example, in Colombia, coffee has been the main source of foreign exchange for the country. This raw material is the most consumed infusion in the world. Annually, it is worth some 71 billion dollars.
On the other hand, western Europeans discovered sugar during the Crusades. This dates back to the 11th century. It was first recorded in England in 1099. Sugar was a scarce and expensive commodity for most of its history. The following centuries saw a major expansion of Western European trade with the East, which included the import of sugar.
Therefore, if you want to know the hourly price of these raw materials, you can use an API. One of those currently available on the market is Commodities-API.
Steps To Try It Out:
1- Go to www.commodities-API.com
2- Log to get your own API key.
3- Read the symbols in the list.
4- Make the API call. This can be achieved using the symbols on the board.
5- The site will deliver an API in various computer terminologies.
This API comes with guaranteed availability, scalable volumes and responds in milliseconds. On the other hand, it displays fully live data and also comes with separate endpoints for single currency conversion. Its implementation is really very simple. It only takes 10 minutes to set up.
Furthermore, your connection when using the Commodities-API is encrypted using 256-bit bank-grade SSL encryption. The commodity data displayed in this API is provided by banks and financial data providers. This makes it very secure indeed.