Top 5 commodity brokers in Vietnam revealed
The five companies holding the largest commodity brokerage market shares in Vietnam sustained their positions in 2021, according to the Mercantile Exchange of Vietnam (MXV).
The Gia Cat Loi Commodity Trading JSC was the biggest with 35.6% of the total transaction volume, followed by the Ho Chi Minh City Commodity Trading JSC (HCT) 18.2%, Saigon Futures JSC 12.2%, Huu Nghi (Friendship) International Investment Co. Ltd (Finvest) 9.4%, and MXL International Commodity Trading JSC 3.3%.
The MXV said though the positions remained unchanged compared to 2020, market shares among these firms became more balanced.
The total commodity volume traded on the MXV last year rose 55% from 2020. Meanwhile, the daily trading value averaged VND3.5 trillion (US$154.2 million), and some sessions even saw the figure surpassing VND7 trillion (US$308.36 million) - a record on the commodity market of Vietnam.
As of December 31, 2021, 31 commodities in the groups of agricultural products, energy, industrial materials, and metal were traded on the MXV.
Soybean oil remained the most traded commodity, accounting for 16.4% of the total. It was followed by corn 12.6% and Chicago wheat 12%.
Nearly 7,000 new trading accounts were opened on the MXV in 2021, raising the total accounts to nearly 20,000.