Meaning of COMMODITY in English


/ kəˈmɒdəti; NAmE -ˈmɑːd-/ noun ( pl. -ies )


( economics ) a product or a raw material that can be bought and sold :

rice, flour and other basic commodities

a drop in commodity prices

Crude oil is the world's most important commodity.

➡ note at product


a thing that is useful or has a useful quality :

Water is a precious commodity that is often taken for granted in the West.



late Middle English : from Old French commodite or Latin commoditas , from commodus convenient.

Oxford Advanced Learner's English Dictionary.      Оксфордский английский словарь для изучающик язык на продвинутом уровне.