G M.Q. Good Merchantable Quality Raw materials like metals, and some items of produce, such as cotton, vegetable oils and wheat, can be accurately graded and the grades remain the same, years in and years out. These commodities can thus be bought and sold under a standard specification and according to standard contract terms developed by the commodity exchanges. There are many such standard specifications in the produce trade, such as Middling Cotton and First Pressing Castor Oil(蓖麻油), in other commodities there are terms like g.o.B. or good ordinary Brand, F.A.Q. or Fair Average Quality, and g M.Q. or Good Merchantable Quality To the importer or exporter these terms have exact meanings established by associations of dealers perhaps over several hundred years of tradingG.M.Q.(Good Merchantable Quality)  Raw materials like metals, and some items of produce,such as cotton,vegetable oils and wheat,can be accurately graded, and the grades remain the same,years in and years out.These commodities can thus be bought and sold under a standard specification and according to standard contract terms developed by the commodity exchanges.There are many such standard specifications in the produce trade, such as Middling Cotton and First Pressing Castor Oil（蓖麻油）, in other commodities there are terms like G.O.B. or Good Ordinary Brand, F.A.Q. or Fair Average Quality, and G.M.Q. or Good Merchantable Quality.  To the importer or exporter these terms have exact meanings, established by associations of dealers, perhaps over several hundred years of trading