Chairperson of Egyptian Commodities Exchange Ibrahim Ashmawy said that 5,000 tonnes of white sugar were offered by 5 production companies during the first trading session of sugar on the bourse. Ashmawy added that seven companies submitted purchase requests through the Commodities Exchange, and six companies completed the purchase with a total quantity of 4,000 tonnes, at an average price of EGP 24,300 per tonne. With regard to the offering of other commodities, including wheat and corn earlier on the Egyptian Commodities Exchange, Ashmawy explained that a quantity of 923,000 tonnes of imported wheat had been traded, with a total number of 66 sessions and a total number of 6552 trading transactions until mid-August 2023. In addition, 45,000 tonnes of imported yellow corn were traded, with a total of 19 sessions and a total of 242 transactions. Ashmawy elaborated that the Egyptian Commodities Exchange is one of the main tools in the trade system and one of its components, as it is an effective mechanism for linking producers with traders and distributors directly without intermediaries. This leads to reducing commodity trading circles and raises the efficiency of the market and allows for a price index to be based on in commercial transactions.
