Do you need to obtain palm oil rates in Australian Dollars? Then an API is the perfect solution for you!
The oil palm tree, which grows only in the tropics, produces high-quality oil, which is mostly used for cooking in developing countries. It’s also in foods, detergents, cosmetics, and, to a lesser extent, biofuel. Although palm oil is a modest component of the American diet, it may be found in more than half of all packaged things consumed by Americans, including cosmetics, soaps, detergents, and even ice cream.
The oil palm tree was originally found in West Africa, but it is now predominantly produced in Indonesia and Malaysia, the world’s two biggest palm oil producing countries. According to the Roundtable on Sustainable Palm Oil, palm oil production employs and supports over seven million plantation workers, smallholders, and their families. In these economically impoverished sections of the world, palm oil production is an important natural resource.
Since the inception of its first plants in 1996, Palm Plantations of Australia has been a world pioneer in sustainable palm oil plantation development, management, palm seed production, and export. It was Australia’s first enterprise to cultivate plantations solely for the production of palm seed. Palm Plantations Of Australia’s breeding program continues to seek to increase the genetic potential of our seed by employing severe culling and a harsh selection procedure.
But how can you keep track of the price of palm oil in Australian Dollars all the time? We recommend that you use an API, which is an interface that can supply you with information about any sort of data you want to investigate. A wide range of websites utilize this for a number of purposes.
Where Can I Find This?
To utilize this, you must locate software that allows you to access the API once per hour. There are many of them available online, but you should be cautious about which one you select because not all of them function in the same manner or offer the same results.
To save time and money, we strongly advise you to utilize Commodities-API, one of the most advantageous commodity rate tools accessible. This API collects price data per minute from over 15 credible data sources, including banks and financial data.
To get the API with hourly price, you must first do the following:
- Create your own API key at www.commodities-api.com
- Find the palm oil (CPO) and Autralian Dollars symbols (AUD)
- Using these symbols, locate the product and money in the list. After you’ve settled on them, make the API call.
- Look for the most recent price. The website will give you with an API in a variety of computer languages that you are free to customize and use anyway you see fit.
More About This Software
Commodities-API can provide real-time commodity data with a 2 decimal point precision and a frequency of up to 60 seconds. Exchange rates for practically every commodity are available, as well as Precious Metals, currency conversion, Time-Series data, and volatility information.
Rice, wheat, coffee, corn, sugar, Brent crude oil, West Texas Intermediate crude oil, soybeans, gold, silver, and other commodities are all seeing price increases. This API delivers precise commodity and exchange rate data for nearly every commodity, as well as 170 different foreign currencies, including Bitcoin and other major cryptocurrencies.
Also published on Medium.