If you want to get into cotton trading API using PHP, you should read this article.
Cotton is one of the most traded agricultural commodities in the world. It is produced in about 80 countries and consumed worldwide. Its fiber is universally used as a textile raw material, while its seed is an important global source of vegetable oils. We can usually find it in our clothes, mattresses, money or vehicles. Cotton is part of our daily lives and has become an indispensable material for industry.
Also known as “white gold” because this plant is resistant to flooding, so in places most exposed to the effects of climate change, its cultivation has become a secure source of long-term income. In addition, this product includes multiple processing steps, which contributes to job creation and the improvement of industrial infrastructure.
If you invest in this sort of item, you should understand how important it is to keep up with everyday pricing. This could be the incident that causes your investments to change course. If you don’t monitor the commodity and observe how it performs in the market, you may end up with poor outcomes and lose money.
If you are interested in cotton business and its daily value you must try this API, which is a programmatic interface that accepts data from a location and returns it to the person who made the API call. This is usually utilized on many websites and is very useful when you need up-to-date information quickly.
The majority of these responses are in JSON and Python. However, in this piece, we’ll talk about PHP and where you can get an API that supports it.
Why PHP?
PHP is a very popular programming language suitable for web development and can be embedded in HTML. As an open source language, it allows developers to edit its structure, and therefore can be applied in any project.
How To Get The API?
An example of how this works, we will use Commodities-API, a free web software that is currently the most comprehensive for obtaining the information we want.
To use it, you need to:
1. Go to www.commodities-api.com and sign in to get your API key
2. Look for the symbols of Cotton and the currency of choice.
3. Once you have them, insert them both and make the API call
4. The software will give you different answers, look for the PHP one between them.
The answer in PHP will look something like this:
// set API Endpoint and API key
$endpoint = ‘latest’;
$access_key = ‘API_KEY’;
// Initialize CURL:
$ch = curl_init(‘https://commodities-api.com/api/’.$endpoint.’?access_key=’.$access_key.”);
curl_setopt($ch, CURLOPT_RETURNTRANSFER, true);
// Store the data:
$json = curl_exec($ch);
curl_close($ch);
// Decode JSON response:
$exchangeRates = json_decode($json, true);
// Access the exchange rate values, e.g. GBP:
echo $exchangeRates[‘rates’][‘GBP’];
Is this information reliable?
Commodities-API is a software program that gathers data from banks and the stock market, ensuring its accuracy. After you make the API request, it returns the data to you with a precision of 2 decimal points and in a variety of programming languages. Furthermore, this application protects your connection with bank-grade 256-bit SSL encryption.
The same API endpoints are used for currency and commodity price conversions, and they can be used to convert any amount from one currency to another, from one commodity to another, or from any currency to any currency.
Also published on Medium.