In the 18th century, coffee was exported from the region of Yemen to Europe. This is one of the most popular beverages in the world, grown in over 60 countries and is one of the top five agricultural commodities. There are many types of coffee: Arabica, Robusta, Excelsa, and Liberica are the most popular. From all of these, Arabica coffee is the most commonly consumed, and it is the most expensive coffee in the world. This kind of coffee is native to the southwestern highlands of Ethiopia.
Arabica coffee is a commodity that can be traded on many commodities exchanges around the world, including the New York Board of Trade (NYBOT), ICE Futures U.S., London Metal Exchange (LME), and more. Its price is determined by supply and demand. In general, the supply of coffee is determined by weather conditions and disease outbreaks, among other things. Demand for coffee depends on economic growth and consumer preferences.
If you are interested in supercharging your Arabica coffee trading you should explore the most accurate and straightforward today’s tools, APIs. In this very specific case, an Arabica coffee futures API can help you in that task. Knowing that not all APIs work as expected, we recommend you look no further than Commodities API. This API provides detailed information about Arabica coffee futures including price quotes and more! Keep reading to find out more about it!
Commodities API
The commodities API is an all-in-price forecasting API that supports a variety of assets so you can anticipate market movements. It has some endpoints that provide a wider insight into a commodity’s price by offering historical data, fluctuation details, and more. The best part is that it provides information on many assets besides Arabica coffee.
Developers may find this API to be a great alternative, as there are many benefits to using an Arabica coffee futures API when building an application. For example, it can help you save time by allowing you to reuse existing code rather than writing it all yourself from scratch. It can also help you save money by allowing you to use paid-for services rather than having to build them yourself.
Making Use Of The Commodities API
The commodities API is very easy to use. Just sign up for an account; then pick an endpoint and enter any necessary data. You’ll be able to query all the information you need in just a few clicks!
We needed to know the cost of Arabica coffee in September 2024 in this situation. The forecasts for Arabica Coffee for September 2024 were therefore denoted by the symbol “KCU24“. We then choose the “Latest Rates” endpoint and the “USD” base currency. Find below the response:
{"data":{"success":true,"timestamp":1686618960,"date":"2023-06-13","base":"USD","rates":{"KCU24":0.0055020632737276},"unit":{}}}
According to the aforementioned answer, 0.0055020632737276 Arabica coffee units equal one US dollar.
Now that you’ve learned how to use the commodities API is time to supercharge your Arabica coffee trading. As a result, you can assess market patterns in the coffee sector to increase profits and make smarter trading decisions. Do not hesitate! Begin integrating the commodities API into your trading platform immediately!
