Commodity Trading Industry needs to learn lessons from the banking sector

Following on from Swiss Government recommendations for transparency in the Commodity Trading Industry, the Chief Executive of Cargill, the world’s biggest agricultural trading house, has urged trading firms to shed light on their ways of doing business. Greg Page, speaking at the FT Global Commodity Summit in Lausanne on 16 April, stressed the need for the industry to become more transparent in doing business or take the risk of facing the same issues as the banking sector in getting regulated by external bodies.

While he was calling for transparent, ethical and societal business practices, he nevertheless denied the common accusations of secrecy, opacity and manipulation which stick to the sector since information is the key element to success in the commodity markets.

Source : Financial times