Would you like to access the spot market and discover cocoa prices? Well, in this article, we will describe an API that will help you with your task. It is the best commodities spot rates api.
Cocoa is an American tree of Amazonian origin, also known as cocoa, since cocoa normally refers to the fruit that the tree bears, or even to the product of drying and fermentation of the seeds of said fruit. The fruit of the cocoa tree, called “cob”, is a large, oval, fleshy berry, whose color tends from yellow to purple, and about 30 cm long. Inside each cocoa pod there are between 30 and 40 seeds, embedded in a pulp. Cocoa is native to America and is commonly found in the territories of Colombia, Venezuela, Brazil, Ecuador, Peru, Bolivia and Trinidad and Tobago.
A cocoa bean contains a huge amount of nutritional substances, such as proteins (11.5%), starches (7.5%), tannins (6%), water (5%), salts and trace elements (2.6%), organic acids (2%), theobromine (1.2%), caffeine (0.2%), among others. In addition, it has a moderate stimulating effect (due to theobromine) and provides the amino acids for the composition of serotonin (troptophan). Cocoa can be toxic to dogs and cats. But above all, this commodity is famous for its ability to create chocolate, which is currently consumed in a huge variety of recipes.
If you want to buy cocoa, you have 2 ways to do it, buy it in the spot market or in the futures market. If you are interested in the first option, it will surely help you to use the Commodities-API service. Below we will provide you with more information about this digital tool.
Why Commodities-API?
The Commodities-API is one of the most crucial commodities trading tools, and we think you should utilize it. It allows you to save a significant amount of time and, most importantly, money. Due to the high caliber of the data sources, you can be absolutely certain that the information is accurate. All of this is done at a frequency of up to 60 seconds and an accuracy of 2 decimal places. If you are wondering, this system obtains the information from recognized sources around the world. If you are European, surely you know Euronext, if you are American surely you know CME Group, if you are from India you surely know Bombay Stock Exchange (BSE). And to your surprise, those sources of information are included!
You must follow these procedures in order to obtain cocoa spot prices and be able to assess them.
1- Generate the API key by going to www.commodities-API.com.
2. Sign up and pick a plan. There are now 3 plans offered, 1 of which is free and the other 2 need payment. The free option undoubtedly has some restrictions.
3. Look for the cocoa symbol, and then choose the currency of your country.
4- Make the API request once you’ve made your decision.
5- You also have the option to make charts for a more thorough investigation and comparison with different commodities.
Doubts? Questions? Contact a Commodities-API adviser using the virtual chat feature.
Also published on Medium.