Okuzeka
Agriculture vocabulary · Trade, Markets and Subsidies

Commodity

Meaning in agriculture, with examples

/kəˈmɑːdəti/nounCore term

In agriculture, commodity means: A basic product such as wheat, maize, soybeans, sugar or cotton that is bought and sold in large amounts and where one producer's goods are much like another's.

In Turkish: emtia, tarımsal emtia, hammadde ürün

How it is used

Used by traders, analysts and exporters. Commodity prices are set on exchanges such as the Chicago Board of Trade and on local commodity exchanges. Phrases include commodity markets, commodity prices and soft commodities (coffee, cocoa, sugar).

Example sentences

  1. Global commodity prices for wheat fell after the record harvest in Russia.

  2. Hazelnuts are a specialty crop, not a bulk commodity like maize.

Common collocations

  • commodity prices
  • commodity market
  • commodity exchange
  • agricultural commodities
  • bulk commodity
  • farm-gate priceThe price a farmer receives for a product when it leaves the farm, before transport, processing, wholesale and retail costs are added.
  • cerealA grass grown for its edible grain, such as wheat, barley, maize, rice, oats or rye; also the grain itself.
  • subsidyMoney or other support paid by the government to farmers to keep production profitable, lower costs or encourage certain practices.
  • food securityA situation in which all people at all times can obtain enough safe, nutritious and affordable food for an active and healthy life.
  • smallholderA farmer who works a small area of land, often a few hectares or less, mainly with family labor and limited capital.

This word in other fields

The same English word can have a different meaning in another field:

More terms: Trade, Markets and Subsidies

Practise with graded reading

Reading at the right level is the fastest way to make new words stick. Pick free English books by level: