Egypt’s Mercantile Exchange posts EGP 21.5b in trades by July

The Egyptian Mercantile Exchange (EMX) recorded 1.73 million tons of trades valued at 21.5 billion Egyptian pounds ($442.75 million) by the end of July, underscoring its growing role in market stability and fair pricing, the Cabinet said Wednesday.

Imported wheat dominated transactions, accounting for 58.35 per cent of total value at 12.5 billion pounds, followed by white sugar at 20.73 per cent (4.5 billion pounds) and imported yellow corn at 13.07 per cent (2.8 billion pounds). Local bran contributed 4.47 per cent (961 million pounds), imported yellow corn and bran 0.59 per cent (127 million pounds), with other commodities making up 2.79 per cent.

Launched to strengthen food security, the EMX provides an organised platform for trading storable commodities including wheat, corn, sugar, bran, soybean meal, and salt. It also facilitates transactions for the Holding Company for Food Industries and manages confiscated assets from the Assay and Weights Administration, including gold, silver, and precious stones.

According to the Cabinet, the exchange helps reduce long supply chains, lower consumer costs, and ensure quality through transparent, electronically settled auctions, tenders, and continuous trading. The EMX aims to balance the interests of producers and consumers while supporting Egypt’s agricultural sector.

The EMX is expected to remain a key pillar in building a robust trade system that strengthens the national economy and ensures sustainable access to essential goods at fair prices, the Cabinet concluded.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser