Fierce competition

In 2024, the commodity trading market in Vietnam continues to witness strong growth with fierce competition.

The full-year trading volume increased by more than 10% compared to 2023, with an average trading value of VND5,000 billion/day. Trading activities were vibrant and this year's commodity brokerage market share rankings continued to be a "fierce" competition.

Top 5 occupy 78% market share

The race for market share in the fourth quarter of 2024 is more intense than ever, as companies are constantly changing their strategies to accelerate to the finish line and dominate the market. According to data from the Vietnam Commodity Exchange (MXV), although this year's rankings have not seen any major changes in the names of the leading companies, the rankings have shifted.

Gia Cat Loi Commodity Trading Joint Stock Company continues to maintain its position as the member with the largest commodity brokerage market share in Vietnam in 2024, accounting for 30.3% of the total market trading volume (KLGD). Throughout all four quarters of 2024, Gia Cat Loi has maintained its "leading" performance in the entire ranking. This is a worthy result for a Member with a methodical, professional operating strategy and a network of offices and branches across the country.

Following Gia Cat Loi, Ho Chi Minh City Commodity Trading Joint Stock Company (HCT) maintained its second place with 18.2% market share. Friendship International Investment Company Limited (Finvest) made an impression by finishing the year in third place with 14.7% market share, up one place from last year. In fourth place, Saigon Futures Joint Stock Company held 10.1% market share.

Notably, after being absent from the third quarter rankings, Hitech Finance Joint Stock Company made an impressive comeback and recorded its name in the 5th position in the 2024 year-end rankings, with 5.2% of the total market trading volume. This affirms the company's flexible business strategy in the fierce race.

Top 5 commodity brokerage market shares in Vietnam in 2024

Right after the top 5, Southeast Asia Commodity Trading Joint Stock Company, VMEX Commodity Trading Joint Stock Company and TVT Commodity Trading Investment Company Limited are members holding good and stable brokerage market share in 2024.

Mr. Nguyen Ngoc Quynh, Deputy General Director of Vietnam Commodity Exchange (MXV)

Mr. Nguyen Ngoc Quynh - Deputy General Director of MXV - said: “The race for brokerage market share in 2024 is extremely fierce, with strong competition in each quarter and sprint steps at the end of the year. Although the world market has many fluctuations, the commodity trading market in Vietnam has remained stable thanks to the continuous efforts of MXV and its members. Members all play an important role in maintaining the professionalism and transparency of the market, by strictly complying with MXV regulations and regulations of the inter-commodity exchanges”.

Platinum leads the trading trend

Not only the brokerage market share, but also the trading volume of commodities in the year witnessed many remarkable changes. The focus of the market was on platinum, which is linked to the Chicago Mercantile Exchange. Continuing the momentum of the third quarter, platinum became the most traded product in Vietnam in 2024, with 15.5% of trading volume. This is a spectacular breakthrough compared to the 6th position in 2023, showing the growing interest of investors in this precious metal.

According to Mr. Nguyen Ngoc Quynh, platinum is currently a "safe haven" in the context of the constantly fluctuating global economy . Platinum will continue to be a strategic commodity, especially in the insurance and investment portfolio in Vietnam in the coming time.

Soybeans, which ranked second, followed platinum with 14.6% of trading volume. Wheat rose to third place with 7% of total market trading volume, up from 9th place last year. Micron accounted for 6.1% of trading volume, rising to 4th place in the rankings. Closely following micron, soybean meal accounted for 6% of trading volume, stopping at 5th place.

In particular, Robusta coffee has made its mark with strong growth, as the price of this commodity has continuously reached historical peaks this year, attracting the attention of investors. By the end of 2024, Robusta coffee ranked 6th in the rankings with a proportion of 5.9%.

Other commodities such as soybean oil, WTI oil, WTI micro oil and Arabica coffee maintained their positions in the top 10, with proportions of 5.8%, 5.7%, 4.8% and 4.4%, respectively.

Most traded products in Vietnam in 2024

In 2025, the commodity trading market is expected to continue to fluctuate unpredictably with many influencing factors such as: geopolitical instability, Middle East conflicts, economic management policies of US President-elect Donald Trump, monetary policy of the US Federal Reserve (Fed), China's economic recovery...

This strong fluctuation will continue to create a very vibrant development in the commodity trading market in Vietnam. Because Vietnam is both a country connected to the world and plays an important role in the global commodity supply and demand chain.

“The commodity trading market in Vietnam will continue to be vibrant right from the first months of the year. Because commodity trading is a two-way transaction, regardless of whether the price increases or decreases, businesses and investors can open positions to hedge prices and earn profits. Therefore, the important thing is not whether the price goes up or down, but that the market is organized transparently, professionally and effectively,” Mr. Quynh added.

With strong steps and sustainable development strategies, the commodity trading market in Vietnam will certainly continue to maintain its growth momentum and attract more attention from investors in the coming time.

Source: https://congthuong.vn/thi-phan-moi-gioi-hang-hoa-2024-cuoc-canh-tranh-khoc-liet-367528.html