Cairo – January 21, 2024: Egypt’s commodities exchange seeks to increase the number of products trading on the platform sometime this year, with potential additions including petrochemicals and additional agricultural produce. 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. Regulations for membership are being finalized and expected to be approved at the first board meeting to be held soon, he added. The EGYCOMEX is currently focused on its transition from auctions to actual trading, and is concentrating on preparing trading operation regulations, he added. Ashmawy, also chairman of the Egyptian Mercantile Exchange (EME), highlighted the state’s strategic reserve of commodities, noting that it has secured enough reserves for six months.
