ArabFinance: The Egyptian Commodities Exchange (Egycomex) is expected to start trading by the first half (H1) of 2021, yet the company aims to have the exchange running in the first quarter, Chairman Ibrahim Ashmawy told Al Borsa News on October 27th.
Egycomex will launch with only wheat as a tradeable commodity, to be followed with rice, sugar, and corn, as well as steel and cotton, according to Ashmawy.
The board of directors has been formed with the Egyptian Exchange’s Chairman Mohamed Farid appointed as the deputy chairman of Egycomex, Ashmawy added.
He noted that Egycomex will be headquartered in New Cairo.
The official confirmed last September that non-food items, including gold, would be traded on Egycomex.
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