On August 14, 2023, an important step was taken when the signing ceremony for the construction of the Pork Trading Floor in Ho Chi Minh City between the commodity and agricultural management agencies of the city took place.
Ho Chi Minh City is currently the leading pork consumption point in the country with about 9,000 - 10,000 pigs per day. However, this market is facing challenges such as prices controlled by traders and food safety issues. The new Trading Floor is expected to bring more transparency and quality to this industry.
The new model will be based on the infrastructure of the Vietnam Commodity Exchange (MXV), with international standards. Mr. Nguyen Ngoc Quynh, Deputy General Director of MXV, emphasized that this model will apply the experiences from the world’s leading pork markets.
The implementation will take place in three phases, including bilateral trading, spot trading and futures trading. Especially, there will be an independent agency to ensure the quality and origin of pork.
It is known that since 2018, Ho Chi Minh City has started to study the construction of the Pork Trading Floor, aiming to ensure the interests of the people. Mr. Nguyen Ngoc Hoa, Chairman of HFIC, stressed the necessity of this, and called for cooperation from all relevant parties.
Finally, with the trend of modernizing the livestock industry, the new Trading Floor will not only contribute to improving product quality, but also promote industrialization and sustainability for the pig farming industry in neighboring provinces.
Source: Nhan Dan Newspaper