A commodity
is any homogenous good traded in bulk on an exchange. Grain,
precious metals, electricity, oil, beef, orange juice, and
natural gas are traditional examples of commodities.
The National Commodity Exchanges
recognized by the Central Government permits commodities
which include precious (gold and silver) and non-ferrous
metals, cereals and pulses, ginned and un-ginned cotton,
oilseeds, oils and oilcakes, raw jute and jute goods, sugar
and gur, potatoes and onions, coffee and tea, rubber and
spices etc.
The terms commodity market,
commodities market and future(s) market mean the same thing
and can be/are used interchangeably.
There are a number of specific
commodities and commodity groupings. Examples of different
commodities market groupings or families include the following:
Agricultural commodities include raw "grains" like corn, oats and wheat.
In the metals commodity market, gold, silver, copper, platinum, aluminum, etc are some of the main raw metal commodities.
Meat commodities are raw products like pork bellies and live cattle.(Bacon comes from pork bellies)
'Soft' commodities, including Orange Juice, Coffee,
Sugar and Lumber.
Energy commodities, including Crude Oil, Gasoline,Heating Oil.
Financial commodities include Treasury Bills, T-Bonds and Currencies.
Some of the commodity rates are given below.
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