Meaning of “commodity” in the English Dictionary

"commodity" in American English

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commoditynoun [ C ]

us /kəˈmɑd·ɪ·t̬i/

social studies anything that can be bought and sold:

The goal is to raise the productivity of basic food commodities such as grains.

(Definition of “commodity” from the Cambridge Academic Content Dictionary © Cambridge University Press)

"commodity" in Business English

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commoditynoun [ C ]

uk /kəˈmɒdəti/ us

STOCK MARKET, FINANCE a substance or a product that can be traded in large quantities, such as oil, metals, grain, coffee, etc.:

One big commodity that Canada exports is oil.
Higher commodities prices boosted first-quarter profits.
agricultural commodities

FINANCE a financial product that can be traded:

Returning barren fields to their natural state as wetlands creates a host of "wetland mitigation credits," a commodity the company plans to sell.

NATURAL RESOURCES a thing or a quality that is useful:

Water is a very scarce commodity in the region.
Fluency in Arabic is a valuable commodity in a job market desperate for Arabic translators.

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