Commodities are economic goods or items that are exchanged sourced, processed, exchanged within the cycle of international trade market. They can be classified into two broad categories, namely “Hard’ and ‘Soft’ commodities. The ‘Hard’ commodities are naturally existing minerals that needs to be mined or extracted from the earth. Examples include energy materials such as coal, uranium, crude oil and natural gas, precious metals such as gold and silver and basic metals such as iron, steel and aluminium. The ‘Soft’ commodities, on the other hand, include agricultural products such as crops and livestock. Examples include corn, coffee, soybeans, beef and milk.
TOP 10 MOST TRADED COMMODITIES
1. Crude oil
3. Natural Gas
Crude oil is the top most traded commodity. It is a naturally occurring, unrefined petroleum product that can be refined to produce usable products such as gasoline, diesel, and various other forms of petrochemicals materials.
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