Egypt is getting ready to launch in 2016 the MENA’s (Middle East and North Africa) first agricultural commodities trade exchange, said Egyptian Medias reporting Supplies minister Khaled Hanafy.

According to him, Amman-based firm, Sigma Investment, has already completed the feasibility study for the exchange. In its first year, MENA’s commodities trade exchange will be trading 8 commodities through 2 million contracts with the goal to reach 9.5 million contracts over the 5 following years.

The exchange will be run by EGYCOMEX. Small farmers should be the main traders on the exchange. On its website Sigma Investment says the main purpose of the exchange was to give local producers, the chance to sell their products at the same prices as those of international market. The project which is about to be completed is part of a plan initiated by Cairo’s authorities and which aims to make Egypt the Arab capital of grains market.

Idriss Linge