Egypt’s mercantile exchange to report 2023 today

The Egyptian Mercantile Exchange (EMX) will report this evening its achievements for the year ended December 31, headed by chairperson Ibrahim Ashmawi.

The press conference will take place in Helnan Landmark Hotel in New Cairo.

The exchange, which began trading in November 2022, has wheat, sugar, and yellow corn among its list of traded commodities, with plans to add cotton, rice, propylene, gold, aluminum, and much more.  It is designed to operate as a spot market with prices determined by supply and demand, operating on a closed bidding system, where bidders submit offers in a sealed envelope and the country’s state grains buyer GASC selects the best one.