Vietnam to Open First Rice Exchange on November 26

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Sept. 28 – Vietnam will soon open the country’s first rice exchange on November 26 to make trading easier.

Vietnam the world’s second-biggest rice exporter. “The exchange is designed to create more favorable conditions for sellers and buyers to meet and conduct transactions,” Nguyen Van Dong, director of Hau Giang Province Agriculture and Rural Development Department, told Bloomberg in a telephone interview.

The first rice exchange will be set-up in the Hau Giang in the Mekong Delta and will feature 30 companies, mostly subsidiaries of Vietnam Southern Food. “Initially, it will handle physical contracts and, when more companies participate, we expect it will also offer futures contracts,” Dong added.