Commodities Exchange
Minister Moselhi emphasized that Egypt’s strategic reserves of wheat can sufficiently cover Egyptians’ needs for 4 and a half months
CEO of the Egyptian Commodities Exchange (EGYCOMEX), Hossam El Garrahi, recently disclosed that the exchange is looking to introduce petrochemicals, iron, cotton, and additional agricultural produce to the platform
Trading on sugar is expected to begin on Thursday, Reuters cited Ibrahim Ashmawy, the head of the exchange as saying. He noted that the decision aligns with a governmental directive aimed at “regulating the markets of strategic and basic commodities.”
A statement by the EGX said Sunday that it is keen on learning from successful experiments in Africa and Asia in this regard.
Egypt Today reviews more details about this exchange in Q&A form.
Madbouli added that it will also increase the state's ability to plan its needs of basic commodities that may be traded in the regulated market.
The establishment of the commodities exchange is linked to the logistic areas, and their whereabouts, which is an important part of the internal trade system.
