Some 425 wheat collection points have been established across the country for farmers who want to offer their harvest on the new Egyptian Commodities Exchange (Egycomex), Ibrahim Ashmawy, head of the Internal Trade Development Authority and chairman of the new exchange, told Al Mal. The commodities exchange will start trading on a pilot basis in April to coincide with the start of the wheat harvest.

Only wheat will be available to trade at first: The government is looking to add other tradable commodities such as rice, cotton and iron, said Ashmawy, who had initially told us that traders would be able to buy and sell wheat, oil, sugar and rice at launch, but a few months later said that only wheat will be tradeable at first.

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