Palm oil is a vegetable oil derived from the oil palm tree’s fruit. It is used in the manufacturing of food, cosmetics, and biofuel. Furthermore, palm oil accounted for almost 33% of all world oils generated from oil crops in 2014.
Crude palm oil and palm kernel oil are the two forms of oil that may be generated. Squeezing the fleshy fruit yields crude palm oil, whilst crushing the kernel, or the stone in the centre of the fruit, yields palm kernel oil. Despite the fact that Indonesia and Malaysia produce more than 85% of the world’s palm oil, there are 42 other nations that produce it.
Palm oil is present in practically everything, accounting for more than half of all packaged items in supermarkets, including food, personal care, and cleaning supplies. It’s also used in animal feed and as a biofuel in various parts of the world.
With all of this in mind, it’s evident that palm oil production is massive, and that a well-managed investment in this commodity may pay off very well. However, in order to do so, you must keep up to date on all sorts of rates in order to predict how the product will act in the future.
This is where an API comes in handy since it can be utilized by a variety of websites or blogs to provide visitors with real-time data. But, what exactly is an API? This is a system that gathers information from a location and then sends it to the person who requested it. You may access information from anywhere on the internet and utilize it for your own purposes using.
Where Can I Get An API?
Developing an API is a difficult task that could cost a lot of money and effort. However, there are a few software programs available on the internet that can help you with this and make your job simpler. However, you should be aware that not all of them function in the same manner or can provide you with the same information. This is why we recommend that you use Commodities-API.
Why Commodities-API?
It is one of the most complete software packages available, and it has quickly become our favorite since it provides useful information at an affordable cost. It’s also quite easy to use, and the data is delivered with a two-decimal point precision.
So, if you’re looking for Palm Oil Updated Rates, you’ll need to do the following steps:
1- Go to www.commodities-API.com and sign in to obtain your personal API key.
2- Look for the Palm Oil and the desired currency symbols.
3- Make the API call once you’ve located both of them.
4- The application will provide a JSON response, which you may modify and utilize as needed.
How does it work?
This application uses an API to get data from banks and the stock market, making it completely trustworthy. This data, which is accurate to two decimal places and adaptable to JSON, PHP, and Python, is then sent to you. Furthermore, Commodities-API encrypts your connection with bank-grade 256-bit SSL encryption.
Rice, wheat, coffee, corn, sugar, Brent crude oil, WTI crude oil, soybeans, gold, silver, and a range of other commodities and currencies are all supported by Commodities-API.
Sign up here and join Commodities-API!
Also published on Medium.