Mohamed Farid, Chairman of the Egyptian Stock Exchange, said that the Egyptian Commodity Exchange is a regulated market for the trading of present, storable commodities and an important mechanism for pricing through market supply and demand mechanisms.
He added that it brings together the parties to the trading process from dealers, stores, sellers and buyers.
The idea of the Egyptian Commodity Exchange project began in August 2018, and meetings were held with the most important inspection and classification companies and the Export and Import Control Authority in November 2018.
In December 2018, the Egyptian Stock Exchange paid visits to warehouse management companies and their locations in the ports, after which they made a presentation to the Prime Minister, and in October 2019 the feasibility study for establishing the Egyptian Commodity Exchange was completed.
In early 2020, the Prime Minister issued a decision approving the establishment of the commodity exchange, and procedures for determining shareholder participation and ownership structure were completed in February 2020.
The official announcement of the establishment of the Egyptian Commodities Exchange Company came in September 2020.
The article is unique: the commodity exchange as a regulated market for trading in stockable commodities was written in the stock exchange newspaper.