Rubber trading floor to be put into operation soon

Mr. Le Thanh Hung - General Director of VRG speaking at the conference

On June 28, VRG coordinated with the Vietnam Commodity Exchange (MXV) to organize a conference to introduce and collect opinions on the rubber trading floor. The event connected 39 points, which are member units of VRG.

Speaking at the opening of the conference, Mr. Le Thanh Hung - General Director of VRG said that the Group is a large state-owned enterprise, managing about 400,000 hectares of rubber, spanning 34 provinces and cities nationwide and two neighboring countries, Laos and Cambodia. In 2024, the Group's expected latex output will be about 470,000 tons, purchasing about 80,000 tons.

According to Mr. Hung, VRG is currently the leading unit in rubber exploitation output in Vietnam, with about 40% of the proportion. However, rubber product transactions are still in the form of direct buying and selling. Customers and units directly contact transactions through the floor price issued by the Group. Mr. Hung said that up to now, the Group operates its member units with floor prices, based on world trading floors such as TOCOM, SHFE, etc.

Mr. Duong Duc Quang - Deputy General Director of MXV presented about rubber trading floor

Through today's conference, VRG's General Director hopes that the parties will focus on research, make recommendations and proposals so that the Group and its partners can further improve the model, operating procedures, and legality, thereby soon completing and putting the rubber trading floor into operation.

Mr. Hung cited examples in Thailand, India, Malaysia, Indonesia, thanks to the trading floor, the buying and selling of raw rubber and finished rubber products is done easily, through online, with the form of listing or auction. Thus, the selling price of raw rubber and finished products is transparent and easy to refer to. Therefore, in Vietnam, it is also necessary to change to suit the general trend of the world and it is expected that the operation of the rubber trading floor will help domestic and foreign partners search and trade rubber products according to their needs and listed prices. In addition, with online transactions, the Group will have more data to research and adjust the floor price, to suit actual needs. At the same time, with the formation of the rubber trading floor, it is easier for customers to compare product prices of each unit, thereby making appropriate choices, optimizing profits.

At the conference, Mr. Duong Duc Quang - Deputy General Director of MXV presented the differences and benefits of the rubber trading floor compared to traditional channels and specifically introduced the rubber trading floor system as well as how it operates.

Also at the conference, representatives of VRG member units and partners also asked many questions related to product listing and rubber trading floor operations.

Source: https://dangcongsan.vn/kinh-te/som-dua-vao-van-hanh-san-giao-dich-cao-su-671267.html