A commodity can be refined from a raw element, as oil is refined from petroleum. A commodity can also be mined directly from the Earth, such as a metal, or it can also be an agricultural product, like eggs. In some cases, a commodity can be an abstract financial tool that is universal, such as the fluctuations in interest rates.
Because commodities can take so many different physical forms, the financial market classifies them as a group based on their universal value and how they are traded.
The major agricultural products can be broadly grouped into foods, fibers, fuels, and raw materials. Specific foods include cereals (grains), vegetables, fruits, oils, meat and spices.
The construction industry consumes more natural resources than any other industry. With increasing public awareness of the needs and demands of sustainable development and environmental conservation, no other industry is called on as much as the country's construction and building industry to evolve their practices to satisfy the needs of our current generation, without curtailing the resources of future generations to meet theirs.
The food and beverages industry is all companies involved in processing raw food materials, packaging, and distributing them. This includes fresh, prepared foods as well as packaged foods, and alcoholic and nonalcoholic beverages.
Steel is one of the most common materials in the world, with more than 1.3 billion tons produced annually. It is a major component in buildings, infrastructure, tools, ships, automobiles, machines, appliances, and weapons. Modern steel is generally identified by various grades defined by assorted standards organizations.