The EMX has kickstarted sales of yellow corn

Yellow corn makes its EMX debut: State grains buyer GASC began offering yellow corn to medium-sized poultry feed factories on the Egyptian Mercantile Exchange (EMX) on Thursday, according to statements by the Supply Ministry (pdf) and the EMX. The offering, announced earlier this month, is part of the government’s efforts to boost the supply of feed amid an ongoing shortage. Reuters also took note.

Extra trading session today: GASC is set to hold a trading session to sell yellow corn on the EMX today and will otherwise sell corn every Monday and Thursday.

Who bought in? The corn was sold in five transactions to an unspecified number of factories with production capacities of 20-100 tons per day — GASC’s target market for the corn sales. Thirty-six feed factories have registered on EMX and others have begun registration procedures, the statements add.

REFRESHER- Poultry feed factories will use the corn to make fodder and sell it to small poultry breeders that have a maximum production capacity of 20k birds per year. Factories must disclose the buyers and the quantities of feed sold.