Cotton is a soft, fluffy staple fiber that develops around the seeds of cotton plants in a boll, or protective casing. The fiber is often spun into yarn or thread and used to create soft, breathable textiles. Although cotton has been farmed since antiquity, it was the discovery of the cotton gin, which reduced manufacturing costs, that led to its widespread usage, and it is now the most frequently used natural fiber material in apparel.
Cotton is often measured in bales in the United States, which size roughly 0.48 cubic meters (17 cubic feet) and weigh 226.8 kg (500 pounds). Worldwide, it is estimated that its production is around 25 million metric tons or 110 million bales annually. In 2019, China was the country with the highest cotton production, with almost 24 million tons. It was followed by India, with almost 19, and the United States, with almost 13.
Because this is a sector that moves a lot of money and changes all the time, you need to remain up to speed on cotton rates every hour if you want to invest in it. This may be accomplished through the use of an API, which is a link that allows two computers or programs to communicate with one another. When you make a request, an API responds with a response, which is usually in JSON.
But how can you get this information? We recommend using Commodities-API, an online free API that gives you real-time data on commodity rates, such as cotton, rice, sugar, and wheat, among others.
How Does It Work?
Commodities-API data can be delivered in any currency you want, with a precision of 2 decimal points, from a large list of over 170 options. You can also get 60-second data updates and make 100.000 API calls per month. To get the data, first, log in to the website, get an API key, and then choose the currency and commodity you want. That’s all there is to it, and you can do whatever you want with the API.
Commodities-API gathers data from banks and the stock market and then utilizes it to provide you with the most trustworthy and secure data. Apart from that, this API employs bank-grade 256-bit SSL encryption, ensuring that your connection remains safe at all times.
Can I Convert Currencies And Commodities?
The same API endpoints are used to convert currency and commodity prices, and they may be used to convert any amount from one currency to another, as well as from one commodity to any commodity and any currency to any currency.
Our API returns midpoint data for all commodities and currency rates. The average median rate of Bid and Ask at a given period is used to calculate midpoint rates.
Also published on Medium.