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How To Obtain Agricultural Market Prices In India Using An API

Do you want to locate an API that gets agricultural prices from reputable Indian sources? You’ve come to the right spot since this article will teach you how to acquire it.

India has an agricultural economy, with agriculture accounting for half of the labor market and arable land accounting for more than 54 percent of the country’s territory. India ranks among the globe’s top in terms of commodity total production for rice, wheat, cotton, sugar, horticulture, and dairy. Agriculture and associated industries like forestry and fisheries provide 19.9 percent of the country’s GDP. As a result, the agricultural sector is vital to Indian economics, politics, and society.

How To Obtain Agricultural Market Prices In India Using An API

The agricultural sector is gradually shifting away from traditional farming and toward horticulture and livestock production (poultry, dairy, and fishery). As the population urbanizes, earnings growth, and consumer patterns change, there is an increase in demand for fresh and processed products of all sorts. The development of an effective cold chain network from “farm to fork” will aid in the exploration of new markets.

As you can see, there are a lot of factors that influence commodity prices. For this reason, if you want to invest in this sector, you should be updated about the Indian commodities values and analyze them along the time to decide the best moment to buy.

On the other hand, investing in commodities is not easy when you can find a lot of information on the internet, because not all the data is trustworthy. You need a tool that provides you with reliable data, in this case, agriculture values from Indian markets, such as Multi Commodity Exchange, National Commodity & Derivatives Exchange Limited, and Indian Commodity Exchange Limited. You can utilize an API to get access to this information.

What Is An API?

An application programming interface (API) is a piece of software that connects two devices. You must use the tools offered to help you. While a few services may be useful, remember that not all of them are functional or offer the same content.

Accessing an API is simple, but locating one that gives commodities values in India is more complicated. This information was compiled by Commodities-API, one of the world’s largest precious commodity inventories. You may also use the API to include current and historical pricing into your website or app, as well as the plugins on this page, to gain access to current and historical rates.

How To Obtain Agricultural Market Prices In India Using An API

To receive it, perform these steps:

  1. Enter to receive an API key.
  2. Begin by looking up the symbols you’ll be using in the dictionary.
  3. Use these signs to add commodities and currencies to the list after finishing the API call.
  4. Click the “run” button.

Why Commodities-API?

It uses bank-grade 256-bit SSL encryption to protect the users. This API is used daily by hundreds of developers, small businesses, and large organizations such as Chainlink. Because of its credible data sources and 6+ years of expertise, this API is the most useful website for primary commodities rates.

This online API delivers up-to-date rate information for a wide range of commodities in a variety of currencies. Commodities-API is a commodities spot rates API that also gathers historical commodity prices from relevant international exchanges and other financial entities. The API can deliver real-time commodities data with a two-decimal point precision and a frequency of up to 60 seconds every minute.

Published inApps, technology
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