Buon Ma Thuot coffee exchange to begin trading

The Buon Ma Thuot Coffee and Commodity Exchange (BCCE) is scheduled to start operations on March 10 and will trade in coffee.
The Buon Ma Thuot Coffee and Commodity Exchange (BCCE) is scheduled to start operations on March 10 and will trade in coffee.

TheBCCE, formerly known as the Buon Ma Thuot Coffee Trading Centre, has atotal charter capital of 75.5 billion VND (3.5 million USD), including42 percent 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 commodityexchanges, such as the Chicago Mercantile Exchange. Following Robustacoffee, BCCE plans to trade in black pepper and rubber.

TranThanh Hai, BCCE General Director, said last year that Vietnam exported1.6 million tonnes of coffee, but the export value of its coffee reachedaround 3.5 billion USD, which is less effective than othercoffee-growing countries, especially Robusta coffee.

Hai saidother coffee-growing countries could gain 10 billion USD from coffeeexports each year, while Vietnam, which accounts for about half of theworld' Robusta coffee output, can only earn about 3 billion USD fromcoffee exports.

The trading of Vietnamese coffee at the BCCE willcreate conditions for farmers to sell directly to buyers at the LondonCoffee Exchange, he said. That will help Vietnamese farmers avoid beingforced to sell at low prices.

In 2008, the Buon Ma Thuot CoffeeTrading Centre had no efficient operation because it lacked capital and agood operational mechanism, while many farmers could not conducttransactions at the centre.

The establishment of the BCCE isexpected to solve problems for commodity transactions and help seizebusiness opportunities. Additionally, feasible deposits in cash orcoffee are considered a suitable solution for small business householdsin the Central Highland region.

According to the GeneralDepartment of Customs, Vietnam exported 241,000 tonnes coffee, earning511 million USD for the first two months of this year. The exportsdropped 25.3 percent in volume and 16.4 percent in value against thesame period of last year.-VNA

See more

At an automotive exhibition in Shanghai, China. (Photo: AFP/VNA)

Chinese electric vehicles drive back into Vietnamese market

About a decade ago, Chinese car brands like Zotye Z8, Beijing X7, and Brilliance V7 entered the Vietnamese market to limited success. But a new fleet of modern Chinese vehicles began to gain traction in the Vietnam market last year.

Illustrative image (Photo: VNA)

Nearly 16 trillion VND raised through January bond auctions

The January auctions saw a strong preference for 10-year and 15-year bonds, representing 80.2% and 14.8% of the total, respectively. Specifically, 10-year bonds raised 12.81 trillion VND, while 15-year bonds garnered 2.36 trillion VND.

Thang Long ferry at Cau Da port in Ba Ria - Vung Tau province. (Photo: VNA)

Vung Tau - Con Dao high-speed ferry reoperated

The high-speed ferry service connecting Vung Tau city and Con Dao island in the southern province of Ba Ria-Vung Tau and vice versa was resumed on February 7 by Phu Quoc Express JSC after a 5-month suspension.

At the working session between the Vietnam Directorate of Market Surveillance and the US Embassy over counterfeit Sunview-branded raisins in Hanoi on February 7. (Photo: dms.gov.vn)

Vietnam, US tackle counterfeit Sunview-branded raisins

Statistics showed that since 2024, there have been 27 documented cases involving Sunview raisins, resulting in fines of over 536 million VND (21,440 USD), primarily due to the sale of smuggled goods and products of unclear origin.

The VF3 model manufactured by VinFast is the most popular model in Vietnam's market. ( Photo courtesy of the company)

EVs will no longer be exempt from registration fees

Instead of enjoying a zero percent registration fee, battery-powered electric vehicles (EVs) will be required to pay 50% of the fee applicable to internal combustion engine cars with the same seating capacity.