The document discusses different types of commodities that are traded globally. It defines a commodity as a product or service that can be exchanged between individuals, countries, or continents. Commodities are divided into hard commodities like metals and minerals, and soft commodities like agricultural crops and livestock. Examples of commonly traded commodities are discussed, including crude oil, gasoline, gold, sugar, and cotton.
3. If you live in a real world you might have heard the word
commodity, but do you know what it means?
A commodity is a product or a service that can be
exchanged between two individuals, two countries, or
two continents. They need not be produced where they
are needed. Like petrol and diesel are manufactured in
middle-east but are used mainly by the Asian countries.
Naturally, the commodity market is divided into two
categories, all around the world:
4.
5. Hard commodity - these include the products which
cannot be grown like mineral oil commodity, heating oil
commodity. Also, all the metals also come under this
category, copper commodity, gold commodity.
Soft commodity - all the crops and livestock are
included in this category, this category contains things
which can be grown and cultivated. Like corn
commodity, wheat commodity.
Energy: Natural gas is one of the commodities included
in energy providing commodities. It's used as a fuel to
keep the American homes warm and good, during its
refining other gases such butane, propane is also
formed which are sold differently.
6.
7. Crude oil is raw oil dug out from the surface of the
earth which is further refined into other commodities
such as petrol, natural gas, diesel, etc. the world
favors light, sweet unrefined petroleum.
Gasoline is a highly exchanged commodity in the UK
and the US; it's used in vehicles and keeping the
houses warm.
Metals: Since the very beginning gold has been
regarded as wisdom metal that is exchanged between
nations who dig it with the nations who need it.
Indians use this in their weddings, so it is very
popular in this Asian country.
8.
9. Agricultural: Sugar is obtained from sugarcane and is
used to give beverages a sweet taste. It is used to a
great extent in Asian countries.
Cotton is famous for its comfort, the white spindle
cotton made in India is renowned worldwide for many
of its properties, and world’s best clothing brands
use it as a raw material to make their clothes.
Now, you are well aware of the commonly trading
commodities, keep reading and learn more.
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