Meaning of “commodity product” in the English Dictionary

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"commodity product" in Business English

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commodity productnoun [ C ]

uk us

COMMERCE, MARKETING a product that is the same as other products of the same type from other producers or manufacturers:

Sugar is a commodity product and no one company has more chance of controlling its supply and price level than any of its rivals.
It is difficult to differentiate and brand commodity products like wood or steel.

(Definition of “commodity product” from the Cambridge Business English Dictionary © Cambridge University Press)