A commodity is a product of primary processing that is mass-produced and sold in bulk. Examples of such products are gold, oil, gasoline, coffee, corn, sugar, etc. Final products that are completely ready for consumption are not commodities.
The main features of such products are the standard of consumer properties, interchangeability, transportability, and batch separability. Usually, the leading trade in such goods concentrates on commodity exchanges, including commodity derivatives.
2020-08-13 • Updated