Commodity

Commodities can be defined as goods or services that have uniform characteristics and can be exchanged or traded widely without regard to specific producers or brands. They tend to have stable physical properties and are generally used as raw materials in production processes or as direct consumer goods.

Types of Commodities:

• Agricultural Commodities: This includes crops such as wheat, corn, coffee and sugar. Agricultural commodities are strongly influenced by natural factors such as weather and planting season.
• Energy Commodities: Includes crude oil, natural gas, and coal. Energy commodities are the backbone in meeting global energy needs and influence prices in various industrial sectors.
• Metal Commodities: Such as gold, silver, copper, and iron. These metals are used in a variety of industries from construction to electronics manufacturing.
• Industrial Commodities: Includes chemicals, plastics, wood, and paper. This commodity is an important raw material in the production process of various finished goods.
• Soft Commodities: Includes rubber, cocoa and cotton. This commodity is also influenced by natural factors and government policies.

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