AUM of commodities under warehousing financing show pick-up in FY23: NCML

It currently manages around 800 warehouses across the country of which almost 40 are owned by NCML

India's assets under management (AUM) of commodities against warehouse receipts has seen a sharp decline of almost 75 per cent in the last five years (2016-17 to 2021-22) due to downturn in the commodity cycle, impact of Covid on overall economic activities that made banks wary of lending to the sector and frequent ban on stocking of commodities to control inflation, Sanjay Gupta, MD and CEO of National Commodities Management Services Ltd (NCML) said.

However, the good part is that since the start of FY23 things have started looking up and the sector will get further boost if the government