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TRADING ON EGYPT'S COMMODITY EXCHANGE TO START IN Q1 OF 2023

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

10.08.22 | Source: Egypt Today


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.



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