commoditycom·mod·i·ty /kəˈmɒdətikəˈmɑː-/ noun (plural commodities) [countableC]1FINANCE a product that can be sold to make a profit, especially one in its basic form before it has been used or changed in an industrial process. Examples of commodities are farm products and metalsThe company trades worldwide, buying and selling basic commodities such as timber, coal and cement.
Rice is the country’s principle export commodity.
→ cyclical commodity → hard commodity → physical commodity → soft commodity2 (also commodity product)MARKETING a product or service that is difficult to show as being different from similar products or services offered by competitorsPCs have become commodities.