Do you need milk prices? Here, we’ll expose how to get it with an API!
Recent reports show that, in general, the values of milk and dairy products increased. This is a product of the enormous commercial demand for these products and, in turn, that in the producing countries this product is scarce.
If the last period is taken, production directly decreases. In certain regions, such as those of the European Union, the same thing happened, concerning the climate, which was unfavorable.
Weather conditions were also detrimental to US production. This is why manufacturing costs have also increased. In contrast, in countries where production increased, such as Argentina, it was possible to expand quite a bit. However, this country barely represents less than 5% of the world’s dairy supply. On the other hand, there are places where production is expected to grow. Among these is Australia.
It is expected that in some countries that are dedicated to this, such as Argentina, production will grow by 2% this year. However, this can be thought of as growth at declining rates, precisely because of the slowdown in global demand. In addition, the growing inflation in various products could trigger the price of milk and dairy products such as cheeses, yogurts, and chocolates.
Use An API
So far we have been able to see only some of the factors in the state of world milk production. In some countries, there are already problems of supply and demand with this basic product of the family basket. For this reason, it is very important to be able to be aware of the movements in this business to understand when to buy or invest.
In this sense, it is very important to be able to use a programming interface. This is a technology that allows some requests to configure a web page or app to transfer constantly updated information. This is very useful if you have digital media where you need to broadcast milk prices.
You should know that not all APIs work in the same way or provide information from trustworthy authorities. For this reason, you have to use a precise one. Here we will recommend Commodities-API which has prices from the main world markets. It’s a CME group rates API.
More About Commodities-API
There are many aspects by which this Commodity API stands out. You will be able to find real-time prices for milk as well as for other products, whether they are live cattle, soybeans, wheat, rice, and hundreds of other products.
In addition, you can find prices in various currencies. For this market, for example, it will help you to compare prices in euros, dollars, and Argentine pesos, for example, to understand the activity of the world milk market.
Even more. You can look at the current prices but also the past ones. In this way, you can make a comparison of the values at different times. You can think about what factors influenced at different times to see if some are repeated or maintained.
In this way you will be able to understand, according to these factors, what is the best time to buy or sell or at what price you expect the product to be. If you have digital media you can juxtapose all this information. Your clients will thank you for including complete information and also for the transparency to help them invest at the optimal time.
Also, it is commonly used by developers because of its extensive documentation available for use. It’s also very easy to incorporate into digital media as it can be used in JSON, PHP, and Python.