Rice is one of the most widely consumed foods in the world. It is a staple food for over half of the world’s population and is consumed by people of all ages and cultures. Rice is a nutrient-rich food that provides people with energy, carbohydrates, and protein. It is also an affordable food that can be found in most grocery stores.
However, in recent years, there has been an increase in demand for rice, which has increased its price. If you are a rice producer or trader; you need to keep track of the price of rice regularly. Numerous websites track commodity prices, including the rough rice price, however, some of them do not provide the pricing data in a machine-readable format. Therefore, to acquire the best deals on rice, you might want to think about using an API, or more specifically, a rough rice futures API.
Essentially, these APIs may provide you with real-time data on rough rice, its prices, and other details. However, not every API is dependable or easy to use, additionally, you might want to consider an API that provides you with more than a commodity detail. So we have a great option for you, the commodities API. Keep reading to find out more about it!
Commodities API
The Commodities API uses more than ten different exchange rate data sources to support its ability to provide real-time precious commodities data. The API contains several endpoints, each of which caters to a certain use case. These include time-series data for one or more currencies, converting amounts between currencies, getting the most recent commodity rates data for all or a specific range of currencies, and accessing the API for daily fluctuation data.
This API has emerged as one of the top options for business owners and developers due to its user-friendly features and reliable data. This is a great option for developers who want a fast and reliable solution for their customers. By making use of this API, they won’t have to create a whole API from scratch.
In terms of subscription options, you can choose from a variety of paid plans. These can offer you up to 100,000 API queries per month and 60 seconds of data updates. This might depend on your subscription. Responses are provided in standard JSON format, which may be simply interpreted by any computer language.
Getting Started With The Commodities API
- Visit the Commodities API and sign up there; after you’re done, you’ll be able to use the API right away!
- Depending on what you’re looking for, use the various API endpoints while using the API’s symbols.
- When you have found the required endpoint, use the “run” button to initiate an API request and view the results on your screen.
- You will receive a response from this API that is specific to the product you are looking for.
Depending on the commodity you’re looking for, this API will give you a different kind of response. In this case, we test the “Latest rates” endpoint, which return real-time commodities rates data for all available or a specific set of currencies. For example, we input the base currency(USD) and symbol (Rice), we got the following information:
{"data":{"success":true,"timestamp":1682130060,"date":"2023-04-22","base":"USD","rates":{"RICE":0.059241706161137},"unit":{"RICE":"per cwt"}}}As you can see from the response, one US dollar is equivalent to 0.059241706161137 hundredweight (CWT) of Rice.
Now that you know how easy it is to get the best price for your rice using this amazing tool, don’t waste any more time and start using it right away!