Sugar is one of the products that we consume the most in our daily lives. It is a basic ingredient in most of the foods we eat such as bread, cakes, or cookies. Also, many people use it to sweeten coffee. Also, for example, it is widely used to cut the acid in a tomato sauce when we eat spaghetti.
Although its excessive use can be harmful to human health, we find it in all these products. If the composition in the food is tiny, it will not affect our health and will make the food much richer. It is also in the sweets that children eat and in chocolates. For this, sugar is a commodity of happiness.
Sugarcane output worldwide is over 1.7 billion tons per year, covering an area of 24 million acres. Brazil is the greatest producer, accounting for more than 40% of global output (720 million tons). When combined with the estimates for India and China, the three nations account for two-thirds of global sugarcane output across an area of about 15 million hectares. Climate conditions, particularly water supplies, have the greatest impact on output.
While the worldwide mean sugar output is close to 60t/ha, several nations produce 100t/ha or more. Colombia, Argentina, Australia, the Philippines, and Brazil are one of the big producers that supply over 20 million tons per year, with average yields of 80t/ha or above.
Use An API
Seeing all this, it is important to know how important this commodity is in the world market. That is why their prices can have several modifications every day. It is necessary that if you want to invest in this product you are aware of the prices in real-time but also of the fluctuation they have to know when to invest.
This programming language is very important because it allows you to implement various functions that are very complex in web pages or apps. For this purpose, you should use Commodities-API.
You can also juxtapose it with other commodities and see their values in different international currencies. In addition, this API obtains its vast information from the most important markets in the world so you will obtain the most reliable data. You can easily incorporate it into your website or application. It’s a CME Group rates API.
Thanks to all the documentation it has, you will be able to include all the data that we mentioned before juxtaposed. You can also create graphics to make it easier for users to see. In this way, you will be able to compare the prices of sugar in various producing countries. You can also contemplate cash and futures contracts.