Trading on Egypt's commodity exchange to start in Q1 of 2023

The commodity exchange will start trading during the first quarter of 2023, head of the Internal Trade Development Authority of the Egyptian Ministry of Supply, Ibrahim Ashmawy, expected.

 

Ashmawy noted that the commodities that will start trading have been identified, such as wheat.

 

Ashmawi said in his statements on the sidelines of the opening of the Commercial Registry Center in Beni Suef Governorate, that all the characteristics of gold have been studied, and trading will begin on some gold bars in addition to the cotton commodity, noting that all bids will take place through the commodity exchange.

 

Ashmawi said that it is scheduled to sign contracts for the first phase of strategic store warehouses with investors, which includes four warehouses during the next month, with Orascom, Samcrete Egypt Engineers and Contractors and Hassan Allam companies.

 

He pointed out that these companies have started to work as private companies for the project to obtain funds for warehouses from banks, noting that these warehouses will be located in the governorates of Sharkia, Suez, Fayoum and Luxor at an investment cost of about LE 3 billion per warehouse.