Do you want to begin investing in the sugar industry? Don’t know how to stay up with the latest market prices? Read on to find out how to achieve it with the aid of an API!
Sugar It’s a flavor-and-glucose-containing disaccharide product. It is typically a sweetening substance for food that also serves as a source of high calories in the human diet. In recent decades, there has been a trend to promote sugar consumption in moderation from a health standpoint.
Sugar is a substance that we encounter on a regular basis; it’s in drinks, cakes, and is even being utilized in environmentally friendly fuels. Sugar is a highly marketable commodity throughout the world as a result of this. Sugar is produced in around 180 million tons per year, mostly by Brazil, China, and India, who are the world’s major producers.
As a result, it is a highly marketable commodity, and many individuals prefer to invest in it. However, investing in the stock market always has its drawbacks, especially in unstable economies. Sugar may become a highly volatile product over the course of a year, so you’ll need to know how to keep up with it and in what currency. A digital currency like bitcoin could be a good option for this.
Bitcoin is a decentralized cryptocurrency and payment system with no single administration or central bank. Bitcoin users can send money to one another using free and open-source software over a peer-to-peer network. This digital money is self-contained and intangible. In fact, to stay informed about the movements of this currency and sugar, we recommend using the Commodities-API.
What Is Commodities-API?
Commodities-API is a website that offers the use of an API, which is computer software that collects data on the pricing of items and currencies all over the globe, such as coffee, corn, wheat, rubber products, and fuels, among other things. This platform’s benefits include being open and free, as well as having a result timeout of less than a minute and data accuracy of two decimal places.
How Is It Used?
The app has the advantage of being extremely simple to use. Simply follow the steps below:
- Create an account on the website.
- Get an API-key, which is a key that is unique to each user.
- Choose your preferred currency (BTC) and commodity (SUGAR)
How Accurate Is It?
With an accuracy of 2 decimal points and over 170 different options, the Commodities-API allows you to access data in whatever currency you choose. You may also get data updates every 60 seconds and make 100.000 API queries every month.
For more details, check the website.