Egypt’s commodities exchange plans to add cotton on trading platform next season

Egypt’s commodities exchange plans to add cotton to its trading platform in the next harvest season, while trading on gold is also understudy, its chairman said on Thursday.

“We have conducted a full study on trading on cotton through the exchange and it (cotton) is put under the microscope right now and will be added in our trading platform by next harvest season,” Ibrahim Ashmawy told Al Arabiya in an interview on Thursday. “We are also considering offering gold on the exchange.”

Earlier the day, the country’s commodities exchange announced adding sugar to its trading platform, a move that was in line with a government mandate to regulate the markets of strategic and basic commodities.

Offering sugar on the bourse came after reaching agreements with sugar production firms to offer the commodity for sale for food production, distributors and vendors, and packaging companies. Adding sugar is in line with a government mandate to regulate the markets

The exchange was established in January 2020 through a partnership between the Egyptian Exchange (EGX), the Internal Trade Development Authority, and the General Authority for Supply Commodities (GASC).