Commodity is a strategy that involves buying and selling of goods that are said to be commodities, which is considered to be of some value and is produced in larger amounts. It is usually sold or produced by different countries and is traded among them, in these countries different companies produce those goods and nobody can tell difference in the produced thing. And here we have the top ten most popular commodities of the world.
1. Crude Oil
When we say “CRUDE OIL” it doesn’t only mean Hydrocarbon liquid but a lot more than that. The crude oil producers are normally the Middle East; it is being extracted out of the ground, transported to refineries through pipelines and then shipped to tankers to the markets all over the world. It is one of the top ten traded commodities of the world; in fact it is the most traded commodity.
It might be a great surprise for you but coffee really is the second most common traded commodity of the world. It is produced in South Asia, Asia and Africa and the main consumers are United States and Europe. You can see the fact that 2.25 billion cups of coffee are consumed in the world everyday!
3. Natural Gas
Natural gas is traded a lot because it is the only thing used everywhere from cooking to heating water in winters. It has a volatile marketing style because of its price fluctuation.
Gold has always been valuable, the reason is may be the beautiful color or maybe it is rare, for women may be it’s the essential part of them or anything else. It is a very important trading commodity these days.
5. Brent Oil
After crude oil it is the second most traded oil product in the market. This oil is basically taken from the North Sea and Norway and areas like Europe and Africa use Brent oil more as compared to crude oil.
Aesthetic Usage, Silver investors and Industrial usage; these are the three markets of silver. Bill Gates and a few more people have invested a lot on silver. It is traded a lot and is one of the most popular traded commodities of the world.
It is the seventh most popular traded commodity, because everybody likes sweet. There is not any place in the world where it is not traded.
This one is the most versatile agricultural products; it has quite massive demand from all over the world. It is also referred as “YELLOW GOLD”. N70% of the corn is grown in United States; around 80 million acres are dedicated for its production. Hence, we can surely know why it is important.
This is the 9th most popular traded commodity; it is the most important food grain in the world. Its worldwide prominence is the major reason of it being a commodity.
It is a fibrous material, it is strong and durable. Its demand is always greater, so when the demand is more the thing is traded more. That is why it is at the tenth position.