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Fungibility
The characteristic of interchangeability. Bulk commodities are generally described as fungible, whereas those with special characteristics may be marketed as identity preserved. Futures contracts for the same commodity and delivery month are fungible due to their standardised specifications for quality, quantity, delivery date and delivery locations.
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Agriculture
- Category: Agricultural programs & laws
- Company: USDA
- Product:
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