Commodity market in need of talent
The unprecedented boom in commodity trading, which has multiplied by a whopping 28 times in just three years, has also opened a vast new job market that is now struggling to find enough skilled manpower.
By PTI |
NEW DELHI: The unprecedented boom in commodity trading, which has multiplied by a whopping 28 times in just three years, has also opened a vast new job market that is now struggling to find enough skilled manpower.
Trading at various domestic commodity exchanges totalled a staggering Rs 36,76,000 crore in 2006-07 , which was over 28 times of the volume recorded three years ago in FY03-04 at just about Rs 1,29,000 crore. In 2004-05 alone, trading volume grew five times to about Rs 5,71,000 crore. In the current fiscal, total business has touched about Rs 15,00,000 crore in first five months itself till August. However, this fast growing market finds itself at sea at times due to shortage of trained staff — be it at trading firms, brokerage houses, exchanges , local mandis, warehouses or export houses, industry experts believe.
“Commodities market is opening fresh avenues not only to investors but also to other participants at all levels. However, we do not have enough talent pool to bridge the gap,” said Forward Markets Commission Member Rajeev Aggarwal.
With the industry expecting a significant part of the growth yet to come, the need for right talent would only intensify going forward, the market players believe.
“India’s commodity market is five times higher than the capital market. This turbo-charged growth in commodities trading is having an unlikely impact - hundreds of MBAs are in demand, not just as analysts with 700-odd commodity brokers, but also at export houses and other agri-based businesses,” Zonal head (North and East) of NCDEX R Raghunathan said.
Trading at various domestic commodity exchanges totalled a staggering Rs 36,76,000 crore in 2006-07 , which was over 28 times of the volume recorded three years ago in FY03-04 at just about Rs 1,29,000 crore. In 2004-05 alone, trading volume grew five times to about Rs 5,71,000 crore. In the current fiscal, total business has touched about Rs 15,00,000 crore in first five months itself till August. However, this fast growing market finds itself at sea at times due to shortage of trained staff — be it at trading firms, brokerage houses, exchanges , local mandis, warehouses or export houses, industry experts believe.
“Commodities market is opening fresh avenues not only to investors but also to other participants at all levels. However, we do not have enough talent pool to bridge the gap,” said Forward Markets Commission Member Rajeev Aggarwal.
With the industry expecting a significant part of the growth yet to come, the need for right talent would only intensify going forward, the market players believe.
“India’s commodity market is five times higher than the capital market. This turbo-charged growth in commodities trading is having an unlikely impact - hundreds of MBAs are in demand, not just as analysts with 700-odd commodity brokers, but also at export houses and other agri-based businesses,” Zonal head (North and East) of NCDEX R Raghunathan said.
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