Trading on Egypt's commodities exchange to start at end of 2021

CAIRO – 23 March 2021: Trading on Egypt’s commodities exchange will take place at the end of 2021, Chairman of the Egyptian Exchange (EGX) Mohamed Farid revealed.

Farid added in his speech at the second edition of Egypt Retail Summit, Tuesday, that the added value of the commodity exchange is two-fold; The first is price transparency, as it works to control prices, while the second part in the warehouses licensed by the Ministry of Supply and the Internal Trade Development Agency that will join the stock exchange will establish a direct relationship between the seller and the consumer.

Farid indicated that communication with the companies that will join the stock exchange is underway, and feasibility studies are being conducted, which take from 42 to 48 weeks before the commodity exchange is launched and trading begins.

He added that trading would start on the commodity exchange with 4 to 5 commodities.