Dubai:  DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – the Dubai Gold and Commodities Exchange (DGCX), the largest derivatives exchange in the Middle East, and Richcomm Global Services, the largest independent broker on DGCX, welcomed industry experts to the seventh edition of the Global Commodity Outlook Conference (GCOC).

Held under the theme ‘Market disruptions and managing risk in uncertainty’, the conference discussed current trends and changes within a range of commodities markets to identify risks and secure profitable strategies for the year ahead. Global industry experts attended the conference alongside a number of high-profile government representatives and delegates including His Excellency Shri. Vipul, Consulate General of India in Dubai.

In opening GCOC, His Excellency Shri. Vipul, Consul General of India in Dubai, said: “The world is currently facing a number of disruptions to trade, including geopolitics, tariffs and trade wars, as well as technology, innovation and a global focus on sustainability. These fundamentally change the way we trade and provide an opportunity for us all. Looking to the region, the UAE is a very important market for us, with numerous strategic agreements in place. As a result, India is bullish on the growth of this relationship.”

Sanjeev Dutta, Executive Director – Commodities & Financial Services, DMCC, added: “I am delighted to see that so many industry professionals from a range of areas of activity have joined us here today. The market currently faces countless geopolitical events unfolding simultaneously, and it is difficult to predict the impact they will have on the global economy, on trade and on the supply, demand and price outlook of commodities. The conference is designed specifically to assess the landscape, understand the pressure points and calculate how to take advantage of the opportunities available to us all in 2020.”

Paresh Kotecha, Chairman and Managing Director of Richcomm, commented: “2020 looks, with foresight, like a challenging and turbulent year. The world today needs to see growth in two major emerging consumer economies: India and China. Both face headwinds that will have direct implications on commodities. The objective of this conference is to have an open, constructive and in-depth dialogue with some of the top commodity and financial market professionals.”

The keynote speeches were followed by a series of panel discussions focused on global economy and energy outlook; agriculture commodities; alternative investments and strategies; special topic - innovation, technology and sustainability; and metals outlook.

-Ends-

Additional GCOC panellist quotes and information 

SESSION | Global Economy and Energy Outlook 

  • Uncertainty is a key theme for the market, with commodity prices currently being affected by numerous factors. As China represents an increasingly large percentage of the world’s GDP, coronavirus has the potential to impact global growth, which in-turn could affect demand for commodities like oil and base metals. However, despite seeing cycles of volatility in commodity markets, we haven’t seen a lack of liquidity. This is taking place amidst the backdrop of trade wars and the anticipation over the US elections at the end of the year.

SESSION | Agriculture Commodities

  • Panel moderator Jonathan Grange, Founder of Sunstone Brokers, said: “The annual demand growth rate for wheat and corn, two of the world’s most consumed grains, is forecast to stay relatively flat in-line with population growth. I enjoyed hearing how the panellists view this challenge and how we can maximise our opportunities.”
  • William Purpura, Chairman COMEX Governors Committee, Principal, GLT Direct DMCC, said: “China continues to represent a large portion of the global demand for agricultural commodities including grain and oil seeds, and increasingly for meat. This represents an opportunity for exporting nations.”

SESSION | Metals Outlook

  • Session moderator Jeffrey Rhodes, Founder & Managing Consultant, Rhodes Precious Metals Consultancy DMCC, said: “This year the conference has been more relevant than ever, with gold taking centre stage as the ‘go to’ safe haven asset class amid rising geo-political tensions, the on-going Sino/US trade dispute and the potential impact of the coronavirus on global economic growth.

“I really enjoyed moderating such a lively session on precious and base metals with the panel providing well informed and thought-provoking insights into where prices are heading this year and why.”

Media Enquiries: 
DMCC
PR & Corporate Communications
pr@dmcc.ae

About DMCC

Headquartered in Dubai, DMCC is the world’s most interconnected Free Zone, and the leading trade and enterprise hub for commodities. Whether developing vibrant neighbourhoods with world-class property like Jumeirah Lakes Towers and the much-anticipated Uptown Dubai, or delivering high performance business services, DMCC provides everything its dynamic community needs to live, work and thrive. Made for Trade, DMCC is proud to sustain and grow Dubai’s position as the place to be for global trade today and long into the future. www.dmcc.ae 

© Press Release 2020

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