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

Origin

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

Pronunciation:

commodity

/kəˈmɒdɪti/