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 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 trading volume (KLGD) of the market. Throughout all four quarters of 2024, Gia Cat Loi has maintained its "leading" performance in the rankings. This is a worthy result for a Member with a methodical, professional operating strategy and a network of offices and branches nationwide.
Following Gia Cat Loi, Ho Chi Minh City Commodity Trading Corporation (HCT) maintained its second place with 18.2% market share. Friendship International Investment Company Limited (Finvest) impressed by ending the year in third place with 14.7% market share, up one place from last year. In fourth place, Saigon Futures Corporation held 10.1% market share.
Notably, after being absent from the rankings in the third quarter, Hitech Finance Joint Stock Company made an impressive comeback and recorded its name in the 5th position in the rankings for the whole year of 2024, with 5.2% of the total trading volume of the market. This affirms the company's flexible business strategy in the fierce race.
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| 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.
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| 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 maintained stability 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, when strictly complying with MXV regulations and regulations of the inter-connected commodity exchanges”.
Platinum takes the lead in trading trends
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 global economy constantly fluctuating strongly. Platinum will continue to be a strategic commodity, especially in the price insurance and investment portfolio in Vietnam in the coming time.
Soybeans came in second, closely following 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 fourth place. Soybean meal followed closely behind micron with 6% of trading volume, stopping at fifth 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. At 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.
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| 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 exciting 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 supply and demand chain of goods.
“The commodity trading market in Vietnam will continue to be vibrant 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
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