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Peat is an organic material formed from decayed plant matter in waterlogged conditions, primarily used as a fuel source, soil conditioner, and in horticulture. Its economic significance lies in its role in energy production and agriculture, particularly in regions with abundant peat deposits. Additionally, peat serves as a raw material in the production of certain chemicals and as a substrate in various industrial applications.
Source: United States Geological Survey Mineral Resources Program
See also: Mineral commodity prices