If 67 minutes is composed of 60 seconds for each minute, you get 4020 API calls at 1 per second. Double that to 2/second and you can make 8040 API calls. Since creating a product is an API call, you make 8040 products in the best possible case in 67 minutes. I think the OP has 24,000 so in fact you might want to suggest triple those minutes or 201 minutes. Reading a CSV and composing the correct JSON or other high level objects in Ruby or Python etc. to add/update the products also consumes clock cycles, so he would have to prepare all 24,000 objects representing the products before entering this loop to have any chance of achieving this kind of rate.
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