The Buon Ma Thuot Coffee and Commodity Exchange (BCCE) started operations yesterday, local media report and will trade in coffee.
Formerly known as the Buon Ma Thuot Coffee Trading Centre, The BCCE, has a total charter capital of VND75.5 billion (US$3.5 million), including 42 per cent sourced from the People’s Committee of Dak Lak Province, reported vnexpress.vn.
The exchange will trade in two products: spots and futures, for Robusta coffee and connect to global commodity exchanges, such as the Chicago Mercantile Exchange. Following Robusta coffee, BCCE plans to trade in black pepper and rubber.
The trading of Vietnamese coffee at the BCCE will create conditions for farmers to sell directly to buyers at the London Coffee Exchange, said Tran Thanh Hai, BCCE general director.