first rice trading floor in Vietnam

Hau Giang (VNA) – The first rice trading floor in Vietnam will debut in the
Mekong Delta province of Hau Giang during Vietnam’s first ever Rice Festival at
the end of this month.

Director Nguyen Van Dong from the provincial Agriculture and Rural Development
Department said that the trading floor is being set up by the Vietnam Food
Association, replacing a 20ha rice market in Chau Thanh A district.

This is the second farm produce exchange to be established in the country after
the coffee trading floor in Buon Ma Thuot in the central highland province of
Dak Lak was opened, added Dong.


So far, 30 enterprises have registered to trade on the floor.
The first trading sessions are expected to be conducted using spot delivery
contracts, but after more enterprises join the trading floor, it will expand to
include futures contracts.

The floor is expected to help businesses and farmers avoid difficulties due to
price fluctuations. It will also offer farmers the opportunity to apply modern
technologies to improve the quality of their rice and increase Vietnam ’s
competitiveness in the world’s rice markets.-Enditem