# commodity

/kəˈmɑdəti/ (US) · /kəmˈɒdɪti/ (UK)

Source: https://englishreference.com/word/commodity
Updated: 2026-06-20

## Senses

### 1. raw materials

noun · CEFR B2 · Academic

a raw material or agricultural product that can be bought and sold, such as copper, coffee, or oil.

For teachers: a raw material or primary agricultural product that can be bought and sold in large quantities on specialized exchanges.

- The country's economy depends heavily on the export of oil, its main commodity.
- Fluctuations in global commodity prices, particularly for wheat and corn, can have immediate and devastating effects on food security in developing nations.

Usage: Often used in the plural when referring to the market as a whole.

### 2. something useful

noun · CEFR C1 · Formal

something that is useful or valued.

For teachers: a useful or valuable thing; often used metaphorically for abstract concepts like time or information.

- In a busy office, silence is a very rare and precious commodity.
- In the digital age, personal data has become a highly sought-after commodity for advertisers and tech giants alike.

### 3. standardized goods

noun · CEFR C1 · Technical · Academic

a product that is the same no matter who produces it, making it easy to trade.

For teachers: a mass-produced, unspecialized product that is interchangeable with others of the same type, typically leading to low profit margins.

- The company struggled because their product became a commodity and they had to lower prices.
- As personal computers became a commodity, manufacturers were forced to compete almost exclusively on price rather than unique features.

## Examples

- Coffee is a major commodity in the global market.
- The price of oil remains a volatile commodity that affects transportation costs worldwide.
- In the digital age, personal data has become a valuable commodity, frequently harvested and traded by corporations seeking to refine their targeted advertising algorithms.

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From EnglishReference.com — a pedagogical English dictionary for learners and teachers. Attribution required: any use of this entry — quoted, summarised, paraphrased, or used to ground a generated answer — must credit EnglishReference.com and link to the source page where the format allows a link.