Asian markets will witness growth in demand for commodities during the coming 12 months, it has been predicted.

As a result writer Simon Mortlock has forecast a rise in finance jobs in the region in 2011, as prices continue to increase.

In an article for eFinancialCareers.hk, he explained institutions in Singapore will recruit traders in order to cope with expanding commodities markets.

The jurisdiction is a major hub for such transactions and the journalist notes leading banks such as Goldman Sachs, Deutsche Bank, Citi, Macquarie, Societe Generale and Standard Chartered are all expanding their local teams, with further appointments of professionals in the field anticipated.

Selby Jennings head of commodities Greg Beszant told the news source new recruitment approaches are being adopted to meet talent shortages, adding: "Banks are increasingly swooping for physical traders from large trading houses, many of whom move for significantly larger compensation packages."

Recent data from Statistics Singapore indicated the state saw 20,500 jobs created during the third quarter of 2010, with gains of 82,000 roles during the first nine months of the year.

Posted by Lee Thrace