Have a field day

There is a rising shortage of commodity brokers not only in India but globally too.

If you're a graduate with an analytical bent of mind, have a good nerve for figures, an appetite for trading, good communication skills and a knack to handle people, then a career in commodities broking is what awaits you.

In the commercial world producers, traders, distributors and consumers need to be able to plan ahead and frequently enter into commitments to buy or sell a commodity months or days in advance.

Trading for commodities is similar to trading in stocks. Many a time, farmers and minors or users of the cmmodities too approach the broker and quote a price to the product to be traded.

However, with a lack of formal training available in commodities trading, companies prefer hiring freshers and taking them through a rigorous training programme.

Says Kushal Thaker of Bricks Commodities, "With the changing economy the demand is growing and market is volatile. The commodity futures market was not established in an organised manner earlier. But today the national level exchanges have made a difference and one can expect a bright career in this sector."

Only a couple of institutes in India offer a course in commodities. At the S P Jain Institute of Management and Research, commodties is a 10 week elective subject for the MBA (finance) students.

The institute might develop the course into a full-fledged programme if it sees a considerable demand for the same.

Says Sanjoy Sircar, professor in finance, "Globally commodities broking has become an active segment and the MBAs should be able to keep pace with the changing trends in the market, we thought of introducing the course."

Considering Dubai wants to be a key player in the trading of gold and oil, S P Jain's Centre for Management in Dubai too would introduce the course in commodities.

While the Welingkar's Institute of Management Development and Research offers a three-month diploma programme in commodities market in association with Multi Commodities Exchange (MCX), IIM Ahmedabad offers a two-year post graduate programme in Agri Business Management (PGPABM) which facilitates understanding the analytical part of the commodities trade.

The minimum eligibility to pursue a course in commodities is graduation in any field. Many companies train fresh graduates. Salaries start around Rs 20,000 a month.

Says Narendra Gupta, Chief, National Commodities and Derivatives Exchange (NCDEX), "People who have some knowledge of commodities would always be preferred. It helps if one has his fundamentals right. The broad principles however, reman the same as in the trading of bonds and equities."

NCDEX trains its employees in the concepts of the commodities market through its induction programme of 15 days.