Commodities industry experts from across the world gathered in Dubai on Sunday for the 3rd Global Commodity Outlook Conference.
The event saw keynote speakers, senior diplomats and over 400 industry delegates identify and debate key challenges and opportunities for the year ahead.
In his welcome address, Gautam Sashittal, CEO of DMCC, spoke of the commodities super cycle, questioning whether or not it is a myth.
He also highlighted the need to continuously adapt in the commodities marketplace where demand, although at a modest increase, will always rise in line with the growth of the world’s population.
“Global trade is still forecast to increase 3 per cent in 2016 and although the requirement for commodities is set to continue, the delivery mechanisms are changing and evolving.
“Advancements in the digital sphere, which the World Economic Forum is calling the 4th Industrial Revolution, mean today’s market structures will need to adapt to the trading environment of tomorrow.”
This year’s GCOC addressed five key themes and topics: macroeconomic trends, energy, agricultural, base and precious metals. Panel sessions saw delegates’ debate and exchange views and opinions on risk, market trends and the upside market potential.
In the session dedicated to the energy sector outlook, Eli Mashmoor, Head of Futures Execution Trading, MJD Partnership/Mercuria mapped out their predictions for Brent and WTI price levels for 2016, and discussed the possibility of a sector price appreciation in 2016.
The conference concluded with an exchange of ideas on precious metals, assessing how any further interest rate hikes by the US Federal Reserve may influence price volatility.
“Hosted by Richcomm Global Services and DMCC, the GCOC has undoubtedly grown in stature since its inception three years ago to become a firm date in the annual global events calendar,” said Paresh L. Kotecha of Richcomm Global Services.
“We see the forum as an essential vehicle for the global commodities industry to come together to identify how to lead and respond to current market trends as well as gearing up for a sustainable future. Next years’ event will be no exception and we already look forward to welcoming everyone to Dubai once again in 2017,” he added.
