First sugar trading floor opens

The Saigon Thuong Tin Commodity Exchange Company (Sacom-STE) has opened the country’s first sugar trading floor in HCM City to help farmers and businesses achieve price discovery and price risk transfer.

Speaking at the inauguration on April 1, Nguyen The Vinh, chairman of Sacom-STE, said the floor would offer a modern trading system, fair competition, and price insurance.

It would also help traders obtain credit, update information about both global and domestic sugar prices, and provide transport and storage for its clients, he added.

Source: Vietnam News Agency

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