The process of a good or service taking on the market characteristics of a commodity, by virtue of taking on uniform characteristics across a market so that units of the good or service become essentially interchangeable. While certain food crops in the past may have displayed different levels of quality depending on the source, for example, modern farming techniques, shipping methods, and health inspections have allowed products such as corn, wheat, and cotton to be commoditized.
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Committee of European Securities Regulators
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