Definition of commodity in English:

commodity

noun

  • 1A raw material or primary agricultural product that can be bought and sold, such as copper or coffee.

    ‘commodities such as copper and coffee’
    [as modifier] ‘a commodities broker’
    ‘commodity markets’
    • ‘These were analyses of commodities markets and various systems sold on an annual basis.’
    • ‘Other commodities whose prices declined include coffee, tobacco, gold and cotton.’
    • ‘The company continues with its ongoing strategy of moving away from commodity products.’
    • ‘Initially it was commodities like wheat or coffee which were the subject of such trading.’
    • ‘The way to deal with a commodity consumer market is to be the biggest player and have the strongest brand.’
    • ‘In general, a miner's profit is determined by the market price of the commodity it extracts from the ground.’
    • ‘Crude oil and refined products are not the only commodities that are in short supply these days.’
    • ‘Other orphans are stopped from attending school in order to sell commodities at the market to earn some income.’
    • ‘Governments were encouraged to specialise in the production of a narrow range of agricultural commodities for export.’
    • ‘The performance of many is closely linked to trends in commodity prices and raw materials.’
    • ‘What the seller wants ultimately to receive in exchange for the commodities sold is other commodities.’
    • ‘For example, all commodities are traded at various market locations.’
    • ‘Exports of primary commodities and the import of finished products are not favourable for any country.’
    • ‘Countries have continued to stack up debts because falling prices of commodities like coffee have cut into export earnings.’
    • ‘The ultimate aim is to replace most of imported products with locally produced commodities.’
    • ‘In addition the figures depend largely on the price of the underlying commodities the company sells: oil and gas.’
    • ‘His wife hails from Hamburg, Germany, and he had a spell working as a commodity broker for a bank.’
    • ‘On the contrary, if farmers are to increase their incomes they must find ways to add value to the commodities they produce.’
    • ‘Now you can see the plan is to diversify the economy and not only depend on the production of primary commodities.’
    • ‘Suppose at first that only two commodities are produced, wheat and iron.’
    item, material, type of produce, product, article, object, thing, artefact, piece of merchandise
    import, export
    View synonyms
    1. 1.1A useful or valuable thing.
      ‘water is a precious commodity’
      • ‘In every sport, there are a few valuable commodities that owners find most important.’
      • ‘Awareness is the most precious commodity that exists in any culture.’
      • ‘Skilled consultants and business advisers can be very valuable commodities in the right hands.’
      • ‘Neither does he have much in the way of time, the commodity most precious when finances are limited.’
      • ‘Which just goes to show that even money cannot stop time, the most precious of all commodities.’
      • ‘One of the most valuable commodities is youth, and as a songwriter, you're condemned to relive it.’
      • ‘His time is a valuable commodity, and when reporters are denied it, they can become annoyed.’
      • ‘We need more flexibility in the system, as time with patients is a valuable commodity.’
      • ‘Space was a precious commodity on sailing ships, and decks were kept as clear as possible.’
      • ‘Time is the most precious commodity everyone has in life and how it is used is vital.’
      • ‘The apartment comes with a car parking space, a valuable commodity in this area of the city.’
      • ‘Time is my most precious commodity so I don't waste it on people I don't want to see or on things I don't want to do.’
      • ‘Industry credibility, he says, was always going to be a far more valuable commodity than hype and exposure.’
      • ‘Experience, considered a priceless commodity in life, can also be a useful ally in football.’
      • ‘Firstly, I do agree that water is amongst New Zealand's most precious commodities.’
      • ‘He asks them to think about what is precious, what invaluable commodities they have.’
      • ‘He wants to enforce his own view that water is a precious commodity to be used only as necessary.’
      • ‘Water is a very scarce, precious and essential commodity and it is essential for survival.’
      • ‘To me, sleep was the most precious commodity in the world and I would fight for as much of it as I could.’
      • ‘After all, it is precisely because music is a commodity that producing it is such a struggle.’

Origin

Late Middle English: from Old French commodite or Latin commoditas, from commodus (see commodious).

Pronunciation:

commodity

/kəˈmɒdɪti/