Vijayawada

Make it a habit to go through commodity contracts, students told

Assistant vice-president of Multi Commodity Exchange Srikanth Kaundinya addressing a workshop on commodity market, in Vijayawada on Thursday.

Assistant vice-president of Multi Commodity Exchange Srikanth Kaundinya addressing a workshop on commodity market, in Vijayawada on Thursday.   | Photo Credit: V RAJU

The Hindu BusinessLine Club and MCX hold meet on ‘Commodity Talk’

Students of management studies at the V.R. Siddhartha Engineering College (VRSEC) and the Prasad V. Potluri Institute of Technology (PVPSIT) gained insightful exposure to the international commodities market and its nuances from derivative contracts to impact of natural calamities on the market after the session ‘Commodity Talk’.

The seminar was organised by The Hindu BusinessLine Club in association with Multi Commodity Exchange of India Ltd (MCX), independent commodity exchange on Thursday, the last day of four day series of seminars conducted in seven professional colleges in and around the city for management students.

The seminars were hosted by the respective institutions.

MCX, assistant vice-president Srikanth Kaundinya in his detailed lecture on the commodity market took students through the commodity exchange screener and the trade that goes behind it between countries and international companies.

He said over ₹25,000 crore trade takes place in India in the commodity market and everything happens on digital systems.

He explained how various types of commodities which are raw materials are standardised using technology and biotechnology for sale in the commodity market.

About the risks involved in commodity market, Mr. Srikanth said risks of non-delivery, transportation, weather, geopolitical issues, credit and others could affect the market.

Gain knowledge

Mr. Srikanth called upon the students to begin trading as it would be helpful for them to understand the market when they move out of the college.

He also asked the students to make it a habit to go through the commodity contracts available on the commodity exchange websites to gain knowledge.

He warned students not to get carried away by the assurances by companies on assured profits and others. “Nobody can predict the market,” he said.

Comquest 2020

He asked the students to participate in the MCX’s national level Comquest 2020 quiz for management students which will be conducted in December.

He said all the participates who scores above 60% would be given certificates and the finalists will have to go to Mumbai.

PVPSIT in-charge principle M.S.R. Niranjan Kumar, MBA, head of the department P. Adi Lakshmi, VRSEC, MBA, head of the department V. Narasimha Rao and others were present.

Commodity Talk was organised earlier in P.B. Siddhartha College of Arts and Science, SRK Engineering College, Andhra Loyola Institute of Engineering and Technology, K.L. Business School and Gudlavalleru Engineering College.

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Printable version | Feb 25, 2020 2:43:27 AM | https://www.thehindu.com/news/cities/Vijayawada/make-it-a-habit-to-go-through-commodity-contracts-students-told/article30113311.ece

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