The Singapore Exchange (SGX) is all set to roll out commodity trading for further scaling new heights of growth. It is planning to introduce fuel oil, gold and coffee contracts during the first quarter of financial year 2010.

The city state has been working out plans to promote it as a leading commodity trading destination by further expanding the existing product base under the Singapore Commodity Exchange.

SGX’s new CEO Magnus Bocker, while speaking at a derivative conference, articulated that market has been picking up slowly and it is, according to him, is a right time to expand its over-the-counter rubber contracts for tapping the growing opportunities in the market.

Bocker further added, “There is great opportunity for Singapore and SGX to be more in the forefront of trading and clearing of energy products."

John Damgard, President of Futures Industry Association, said, "The commodities have become so important worldwide as investment vehicles. Asia and Singapore, by virtue of its location, is in a perfect position to take advantage of worldwide demand."