What Is Agricultural Commodity?
Agricultural Commodities are crops and livestock that are raised and harvested to provide food and sometimes fuel.
It also means any agricultural commodity, non- processed food, feed, fiber, or livestock, including insects.
What are agro commodity products?
Agricultural commodities means wheat, cotton, flax, corn, dry beans, oats, barley, rye, tobacco, rice, peanuts, soybeans etc.
Types of Commodities;
Since there are so many commodities, they are grouped into three major categories: agriculture, energy, and metals.
Agriculture
Agricultural commodities include:
Things you drink, such as sugar, cocoa, coffee, and orange juice. These are called the “softs markets.”
Grains, such as wheat, soybeans, soybean oil, rice, oats, and corn
Animals that become food, such as live cattle and pork (called “lean hogs”)
Things you wouldn’t eat, such as cotton and lumber.
Energy
The energy category includes crude oil, RBOB gasoline, natural gas, and heating oil. Commodities trading is a big determinant in setting oil prices.
Metals
Metals include mined commodities, such as gold, copper, silver, and platinum. The London Metal Exchange announced it would launch futures contracts for metals used in batteries.
The exchange expects there will be a large market for such metals as the demand grows for electric vehicles.
What are examples of agricultural commodities;
The term ‘commodity’ is commonly used in reference to basic agricultural products that are either in their original form or have undergone only primary processing. Examples include cereals, coffee beans, sugar, palm oil, eggs, milk, fruits, vegetables, beef, cotton and rubber.
Why are Agricultural Commodities Important?
Commodities thrive or decline based on the demand from the public. The great thing about agricultural commodities is that they are used to feed billions of people around the world. Without agricultural commodities, the world would starve.
Below Is An Illustreted Table For Agricultural Commodities Prices In Ghana;
