what is raw material

Raw material, also known as a feedstock, unprocessed material, or primary commodity, is a basic material that is used to produce goods, finished products, energy, or intermediate materials that are feedstock for future finished products. It can be in unprocessed or minimally processed states such as raw latex, crude oil, cotton, coal, raw biomass, iron ore, plastic, air, logs, and water. Raw materials are essential for the primary production or manufacturing of goods and are bought and sold on commodities exchanges worldwide. They can be direct, which are directly used in the manufacturing process, or indirect, which are not part of the final product but are used in the production process. Raw materials are critical components of primary production and play a crucial role in economic growth