The debate of commodity vs product relates to the beginning and end of the production process. A commodity is a raw material that is used in the manufacturing of commercial goods, and the product refers to the physical goods as a result.
Each commodity comes with a commodity code: a 10-digit number that helps to identify import and export restrictions from outside the EU. This includes duty and VAT ratings that you may be charged and import licenses that you may have to declare when introducing a commodity to customs.