Ho Chi Minh City will launch a pork trading floor in a bid to ensure better food safety and hygiene, according to the municipal Department of Industry and Trade.

The city’s Departments of Industry and Trade and Agriculture and Rural Development have recently signed a cooperative agreement with the Mercantile Exchange of Vietnam (MXV) to open the pork trading floor.

Under the agreement, they will study, develop, and operate a pork trading floor in the city in the form of spot contracts and futures contracts.

The trading floor will be established and developed based on MXV’s infrastructure, including trading and payment systems, a goods delivery center, and the provision of market information and transactions of all types of contracts in line with international standards.

The establishment of the trading floor will help trade pork in a modern and transparent manner, ensuring food quality, safety, and hygiene and reducing intermediary costs, stabilizing the supply of pork, and ensuring reasonable prices for consumers.

Ho Chi Minh City is currently the largest pork market in Vietnam, with about 10,000 pigs consumed each day.