Are you interested in investing in small rubber producers? Read this post to know how to use an API that will allow you to do it!
Rubber is created by extracting a liquid sap from specific species of trees called latex. There are approximately 2,500 different varieties of trees that generate this sap (including plants like dandelions), but the Hevea brasiliensis tree, or the rubber tree, produces the vast majority of latex for rubber manufacture.
It’s found in medical gadgets, surgical gloves, plane and vehicle tires, pacifiers, clothing, and toys, among other things. Latex, a milky liquid found in latex vessels (ducts) or the cells of rubber-producing plants, is used to make natural rubber.
Between 2021 and 2022, worldwide demand for industrial rubber is expected to expand at a moderate pace of 4.6 percent. In terms of value, the industrial rubber market is estimated to reach USD 33.82 billion by 2022. The market’s expansion may be linked to the Asia Pacific’s strong economic outlook and the inclusion of nations from Oceania into the market.
The increased production and sales of automobiles throughout the world have resulted in a large volume of output for this sector of the market. Because of sluggish growth in durable goods consumption and automobile production, the industrial rubber industry in established new local markets, such as New Zealand and Japan, will have market increases below the world average.
For example, the New Zealand’s economic sector is based on trade, agriculture and tourism. The agricultural products are principally meat, dairy products, and fruits and vegetables or products based on them. New Zealand’s major exports also are crude oil, paper products, wood and wood products such as rubber.
This last resource was started by local farmers who copied the production mechanisms of the indigenous people of the area and began the use of various trees that produced solid resins to generate this type of material. The climate of the tropical area in the north of the country benefits the harvest of this resin that needs high and humid temperatures. This small production grew in the last two years, generating enough profit to be sustainable for the indigenous and local community. These products, in order to keep up to date with the prices of rubber in the market, use Commodities-API.
What Is Commodities-API?
Commodities-API is a free and open website that uses an API to get real-time data on up to 170 different items on the market in various currencies.
The service is run by receiving data from financial institutions every 60 seconds and working with two decimal places of accuracy. In turn, data and measurements from earlier days, weeks, months, and years may be accessed in order to get a stronger market position while investing.
How Do I Use It?
It’s really easy to get started on the website for the first time; simply follow these instructions:
- Make an account on the website.
- Create an API key
- Select the currency (NZD) and the commodity (RUBBER) of your desire.
And that´s all!
How Safe Is It?
Their API pulls commodity pricing data from over 15 credible data sources per minute. Banks and financial data companies are among the sources. They additionally safeguard your connection with bank-grade 256-bit SSL encryption. Commodities-API is used by thousands of developers, small businesses, and huge corporations on a daily basis. Because of its reputable data sources and years of expertise, this API is the most popular site for commodity rates.