Did you know that sugar is one of the most tradable products? Would you like to enter the sugar market? Read this post to learn how to invest wisely!
Sugar is a carbohydrate that the body breaks down into glucose. Although some drinks should be avoided since they have been related to obesity, these sweet beverages are highly sold all over the world by various multinational brands. Sugar in little amounts as part of a meal is fine. But not everything related to sugar is bad. Small portions of this form a balanced diet. High-sugar snacks also serve as energy sources for our bodies, keeping us awake.
The process to obtain sugar consists of nine steps: cane cutting, grinding, steam generation, heating, clarification, filtration, evaporation, crystallization, evaporation and drying. All these methods have to be carried out in tropical climates, suitable for the harvest of sugar cane. Because of this, the largest sugar producers in the world are Brazil and India who import globally to many countries.
In fact, emerging countries like New Zealand began to harvest sugar locally, on family farms since regions of the country also have tropical climates like Queensland. In the 2000´s, New Zealand became the second country in the world to deregulate their sugar market, which loosened many rules about who could sell sugar and how much for, producing about 160,000 tonnes of sugar products a year for domestic use. An additional 40,000 tonnes is exported as sugar or sugar blends.
If you are interested in starting to invest in the sugar market or you are a local producer who is trying to measure the metrics since sugar can be a very volatile commodity, we recommend three APIs to do so:
Commodities-API
Commodities-API It’s a free public API that shows you the price of commodities including coffee, rice, sugar, and wheat.
To obtain the data, simply log in to the website, obtain an API key, and then select the appropriate currency and commodity. That’s all there is to it, and you may use the API anyway you choose. The Commodities-API can provide data in whatever currency you choose, with a 2 decimal point precision, from a list of over 170 possibilities. Each month, you may obtain 60-second data updates and conduct 100.000 API requests.
Currency and commodity prices may be converted using the same API endpoints, and any amount can be converted from one currency to another, as well as from one commodity to another, and from one currency to another. For all commodities and exchange currencies, the API delivers midpoint data. The midpoint rates are calculated using the average median bid and ask rates over a period of time.
Barchart
One of the earliest websites to give commodity and futures market data was Barchart. Is an international financial technology company that provides market data and services to the financial, media, and commodities industries. Barchart’s unique data, software, and technology solutions power the operations of its diversified customer base from front to back office, while its media brands deliver web content, news, and publications to aid financial and commodities professionals in their decision-making.
CommoPrices
This API gives you access to over 10,000 commodities and indices’ prices and values. Depending on the source, the data may be updated daily, weekly, or monthly. A market’s liquidity is proportional to the amount of data it contains. You may find out more by visiting www.api.commoprices.com and looking for the commodity you’re interested in. For security reasons, they use HTTPS to encrypt requests between your browser and their servers.