The Ministry of Industry and Trade has approved the development of the commodity derivatives market in Vietnam for 2026-2030, with a vision to 2045, marking a shift from the market’s initial formation towards deeper and more structured development.

The scheme approved on September 29, 2026, sets out a framework for developing the commodity derivatives market on market-based, transparent, safe and efficient principles, with the aim of bringing it closer to international practices. It places particular emphasis on linking derivatives trading with the physical commodities market to support production, business, import-export activities and companies’ need to hedge against price risks.

Linking derivatives trading with physical commodities

Under the scheme, the market will be developed according to a unified structure, with the commodity exchange playing a central role in organising trading, price formation and liquidity.

Alongside the centralised market, the over-the-counter (OTC) market will be gradually standardised and managed in line with the level of market development and businesses’ hedging needs.

The approach addresses a key gap in Vietnam’s commodity derivatives market. Although trading activity has grown, its links with the domestic physical commodities market remain limited. The Ministry of Industry and Trade has identified closer links between the two markets as an important direction for the next stage of development.

In 2025, trading on the market reached around 1.54 million contracts, up more than 34% from the previous year, with total trading value estimated at over VND1.9 quadrillion.

Stronger integration with the physical commodities market is intended to give businesses an additional tool for managing exposure to price fluctuations, alongside other forms of commercial risk management.

Building domestic reference prices

A key objective of the scheme is to develop trading products linked to commodities in which Vietnam has competitive advantages and those of Vietnamese origin.

By 2030, Vietnam aims to have around 10 domestic commodities traded through the commodity exchange, with annual trading volume on the commodity derivatives market reaching approximately 8-10 million contracts.

The scheme also targets the participation of around 300-500 businesses, particularly producers, exporters and large companies in key commodity sectors, using derivatives to hedge against commodity price fluctuations.

Looking further ahead to 2045, the scheme aims to establish three to five key Vietnamese commodities with a role in domestic price referencing and, progressively, regional price formation.

The long-term direction is to build a commodity derivatives market with greater scale and connectivity in Southeast Asia, operating on a modern basis and maintaining close links with the physical commodities market.

This is particularly relevant to Vietnam’s major export commodities, for which domestic price formation could strengthen the position of Vietnamese producers and exporters in international markets.

Completing market infrastructure and risk management

Achieving these targets will require more than expanding the number of commodities and contracts traded. The scheme places strong emphasis on developing the market’s infrastructure and supporting systems.

By 2030, Vietnam aims to complete a unified and coordinated legal framework covering commodity derivatives trading, alongside improvements to trading systems, clearing and settlement, warehousing, delivery and market-data infrastructure.

Centralised clearing, risk management, market surveillance and early-warning mechanisms are also identified as important components of the market’s development.

Digital infrastructure, data and technological solutions will be increasingly applied to market management, operation and surveillance. At the same time, the capacity of businesses, regulators and other market participants will need to be strengthened.

The scheme identifies a range of tasks and solutions covering the legal and regulatory framework, traded commodities and products, market infrastructure and data, risk management and control, market participants and capacity building.

The development of the commodity derivatives market is also being pursued alongside the drafting of a law on commodity derivatives trading.

The Ministry of Industry and Trade began preparing the draft law in 2026 and has conducted consultations on the policy and draft legislation. The ministry’s published documents identify the need for a unified legal framework governing commodity derivatives trading and for stronger links between the physical commodities market, the underlying market and the derivatives market.

From market formation to deeper development

The new scheme goes beyond simply expanding trading volumes. Its broader direction is to build a commodity market ecosystem connecting production, exports, warehousing, logistics, finance and price-risk management.

The implementation roadmap is designed in stages. The initial period will focus on establishing the market foundations, completing trading, clearing and settlement, surveillance and risk-management systems, and strengthening the regulatory framework.

The subsequent stage will focus on expanding the range of traded commodities, developing products linked to Vietnamese-origin commodities, gradually establishing domestic reference prices and strengthening international market connectivity.

The scheme also aims to strengthen the role of commodity exchanges in price formation and liquidity, while creating conditions for businesses in key production and export sectors to use derivatives as a tool for managing price volatility.

If implemented in a coordinated manner, commodity derivatives trading can become more closely connected with the real economy, giving businesses greater capacity to manage price risks and strengthening links between domestic production and international markets.

The approval of the scheme therefore provides a new framework for the development of Vietnam’s commodity derivatives market, moving it towards a more structured market with stronger links to physical commodities, improved infrastructure and clearer mechanisms for risk management and price formation. It also provides an important policy foundation for further development of the law on commodity derivatives trading and a more modern, transparent and internationally integrated commodities market.