Definition of commodity in US English:

commodity

nounPlural commodities

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

Origin

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

Pronunciation

commodity

/kəˈmɑdədi//kəˈmädədē/