Meaning of COMMODITY in English

COMMODITY

com ‧ mod ‧ i ‧ ty /kəˈmɒdəti, kəˈmɒdɪti $ kəˈmɑː-/ BrE AmE noun ( plural commodities ) [countable]

[ Date: 1400-1500 ; Language: French ; Origin: commodité , from Latin commoditas , from commodus ; ⇨ ↑ commode ]

1 . a product that is bought and sold:

agricultural commodities

Commodity prices fell sharply.

2 . formal a useful quality or thing:

Time is a precious commodity.

• • •

COLLOCATIONS

■ adjectives

▪ an important commodity

Crude oil is the world’s most important commodity.

▪ an expensive commodity

Consumers began to find that they could afford more expensive commodities.

▪ a valuable/precious commodity

Land is an extremely valuable commodity.

▪ a rare/scarce commodity

Soap was a scarce commodity during the war.

▪ a hot commodity (=one that a lot of people want to buy)

Web domains ending in .com became hot commodities.

▪ a saleable/tradeable commodity (=one that can be sold or traded)

Land is a freely saleable commodity.

▪ agricultural commodities

The falling prices of agricultural commodities such as coffee have severely affected the economy.

▪ industrial commodities

Sales of the old industrial commodities of iron and coal are still important.

■ commodity + NOUN

▪ commodity prices

Commodity prices are very high in the UK.

▪ a commodity market

Coffee is facing the deepest crisis in a global commodity market since the great depression of the 30s.

• • •

THESAURUS

▪ product noun [countable] something that is made or produced in large quantities, usually in order to be sold:

consumer products such as mobile phones

|

dairy products

▪ goods noun [plural] things that are produced in order to be sold, especially for use in the home:

They sell furniture and other household goods.

|

electrical goods

|

white goods (=large electrical goods used in the home such as washing machines and refrigerators)

▪ commodity noun [countable] formal a type of product or raw material that can be bought and sold – used especially about basic food products, metals, and fuels:

The decline in prices for agricultural commodities made the economic situation worse.

|

All metal was a valuable commodity and was rarely wasted.

▪ merchandise noun [uncountable] formal things that are being sold, especially in shops:

Customers are not allowed to handle the merchandise.

|

Sales of books, videos, and other merchandise have increased.

▪ wares noun [plural] written things that are offered for sale, especially in a market or on the street:

In the market, the traders began selling their wares.

|

Merchants brought their wares from all over the world.

▪ export noun [countable often plural] a product that is sent to a foreign country in order to be sold:

US exports rose to $11.935 billion.

|

At the moment, oil is their biggest export.

▪ import noun [countable often plural] goods that are brought from one country into another to be sold there:

The UK clothing industry cannot compete with foreign imports on price.

Longman Dictionary of Contemporary English.      Longman - Словарь современного английского языка.