Vietnam’s Sacombank announced it would open a sugar exchange in Ho Chi Minh City this April with more than 60 local producers as trading members.
Phan Vu Hung, Director of the Sacombank Commodity Exchange, said his company was setting up regulations for its trading members and the exchange was expected to open on April 5. Products trading on the exchange would be stored and managed by the company, he said.
The sugar exchange will be among the first exchanges for commodities in Vietnam.
Sacombank opened a steel exchange on December 21 last year. As of Thursday, trading value on the exchange had reached VND10.4 trillion (US$557 million) with a total 920 tons of steel available for trading.