In 2024, the commodity trading market in Vietnam continued to witness strong growth with fierce competition.
The trading volume for the whole year increased by more than 10% compared to 2023, with the average daily trading value reaching 5,000 billion VND. Trading activity was vibrant, and this year's commodity brokerage market share ranking continued to be a fierce competition.
The top 5 dominate 78% of the market share.
The race for market share in Q4 2024 is more intense than ever, as companies constantly change strategies to accelerate towards the finish line and dominate the market. According to data from the Vietnam Commodity Exchange (MXV), although this year's ranking did not see major changes in the names of the top companies, the rankings have shifted.
Gia Cat Loi Commodity Trading Joint Stock Company continues to maintain its position as the largest commodity brokerage firm in Vietnam in 2024, accounting for 30.3% of the total market trading volume. Throughout all four quarters of 2024, Gia Cat Loi consistently led the rankings. This is a well-deserved achievement for a company with a well-structured and professional operational strategy and a nationwide network of offices and branches.
Following Gia Cat Loi, Ho Chi Minh City Commodity Exchange Joint Stock Company (HCT) maintained its second-place ranking with 18.2% market share. Huu Nghi International Investment Company Limited (Finvest) impressed by finishing the year in third place with 14.7% market share, moving up one position compared to last year. In fourth place, Saigon Futures Joint Stock Company held 10.1% market share.
Notably, after being absent from the Q3 rankings, Hitech Finance JSC made an impressive comeback and secured the 5th position in the 2024 annual rankings, with 5.2% of the total market trading volume. This confirms the company's flexible business strategy in the fierce competition.
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| Top 5 commodity brokerage market share in Vietnam in 2024 |
Following closely behind the top 5, Southeast Asia Commodity Trading Joint Stock Company, VMEX Commodity Trading Joint Stock Company, and TVT Commodity Trading Investment Company Limited are the members holding good and stable brokerage market shares in 2024.
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| Mr. Nguyen Ngoc Quynh, Deputy General Director of the Vietnam Commodity Exchange (MXV) |
Mr. Nguyen Ngoc Quynh - Deputy General Director of MXV - stated: “The brokerage market share race in 2024 is extremely fierce, with strong competition in each quarter and a final sprint towards the end of the year. Although the global market is volatile, the commodity trading market in Vietnam has maintained stability thanks to the continuous efforts of MXV and its members. All members play a crucial role in maintaining the professionalism and transparency of the market by strictly adhering to MXV regulations and the regulations of the interconnected commodity exchanges.”
Platinum takes the lead in trading trends.
Not only did brokerage market share change significantly, but the trading volume of commodities also saw notable shifts this year. The market's focus shifted towards platinum, which is linked to the Chicago Mercantile Exchange. Continuing its momentum from the third quarter, platinum became the most traded commodity in Vietnam in 2024, accounting for 15.5% of trading volume. This represents a spectacular leap from its sixth-place ranking in 2023, demonstrating the growing interest of investors in this precious metal.
According to Mr. Nguyen Ngoc Quynh, platinum is currently a "safe haven" amidst the volatile global economy . Platinum will continue to be a strategic commodity, especially in the hedging and investment portfolios in Vietnam in the coming period.
Soybeans ranked second, closely trailing platinum with 14.6% of trading volume. Wheat rose to third place with 7% of total market trading volume, a significant increase from its ninth position last year. Microcoins accounted for 6.1% of trading volume, climbing to fourth place in the ranking. Following closely behind microcoins, soybean meal accounted for 6% of trading volume, securing fifth place.
In particular, Robusta coffee has made a mark with strong growth, as its price has continuously reached historical highs this year, attracting the attention of investors. At the end of 2024, Robusta coffee ranked 6th in the ranking with a share of 5.9%.
Other items such as soybean oil, WTI oil, WTI micro oil, and Arabica coffee maintained their positions in the top 10, with market shares of 5.8%, 5.7%, 4.8%, and 4.4%, respectively.
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| The most traded products in Vietnam in 2024 |
In 2025, the commodity trading market is projected to continue to be volatile and unpredictable, influenced by various factors such as geopolitical instability, Middle East conflicts, the economic policies of US President-elect Donald Trump, the monetary policy of the US Federal Reserve (Fed), and the economic recovery of China…
This significant volatility will continue to create a highly dynamic environment in the Vietnamese commodity market. This is because Vietnam is both a country with international trade links and plays a crucial 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, whether prices rise or fall, businesses and investors can open positions to hedge against price fluctuations and reap profits. Therefore, the important thing is not whether prices go up or down, but whether the market is organized transparently, professionally, and efficiently,” Mr. Quynh added.
| With strong steps and a sustainable development strategy, the commodity trading market in Vietnam is sure to continue its growth momentum and attract more investor interest in the future. |
Source: https://congthuong.vn/thi-phan-moi-gioi-hang-hoa-2024-cuoc-canh-tranh-khoc-liet-367528.html
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