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Pepper exporter joins Singapore exchange
Singapore Mercantile Exchange will join hands with Vietnamese black pepper producer Phuc Sinh Corporation to boost global exports.
The work, which will also involve storage and delivery, is in accordance with the memorandum of understanding signed by the exchange and Phuc Sinh on Tuesday.
The exchange and the corporation have agreed to improve and share research to help boost black pepper exports.
Phuc Sinh, in collaboration with Singapore Mercantile Exchange, will also be a key partner in the development and growth of an SMX Black Pepper Futures market that the exchange is working on.
"Phuc Sinh is also active in a number of other commodity products where cultivation and production are predominantly Asian-based," said Thomas J McMahon, the exchange's chief executive officer.
As a pan-Asian platform for commodities, the exchange was looking forward to co-operating more with Phuc Sinh, McMahon said.
Phan Minh Thong, President of Phuc Sinh Corporation, said the partnership with Singapore Mercantile Exchange would bring the company more opportunities to develop its business.
Phuc Sinh in 2009 accounted for 71 per cent of the world's total black pepper export volume.
vietnamnews
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