{"id":568249,"date":"2020-12-23T03:47:36","date_gmt":"2020-12-23T03:47:36","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/groundhog-day\/"},"modified":"2020-12-23T03:47:36","modified_gmt":"2020-12-23T03:47:36","slug":"groundhog-day","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/groundhog-day\/","title":{"rendered":"Groundhog day"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>The launch of the long-awaited commodities exchange (Egycomex) has again <\/strong><strong>been delayed<\/strong>, after Internal Trade Development Authority (ITDA) Chairman and Egycomex head <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d41d4a55-26e7-48e2-a7ed-fa8a4d024224\">Ibrahim Ashmawy<\/a> told <a href=\"https:\/\/bit.ly\/37DyORO\">Al Mal<\/a> that it now won\u2019t be seeing the light of day until the second half of 2021. Sources had initially hinted at <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/75cc4fe3-c649-41cd-83b3-f999dec7badc\">a September 2020 start date<\/a>, which was later <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/448d2768-4310-463e-af98-dcd93cbfd05a\">pushed back to 1H2021<\/a> before yesterday\u2019s news.<\/p>\n<p><strong>What can you trade? <\/strong>Ashmawy is now saying that wheat, oil, sugar, rice, iron and gold will all be accessible to traders from the get-go. He had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f5b51152-7fc0-4084-8b84-8a767cb6260a\">first told us<\/a> that traders would be able to buy and sell wheat, oil, sugar and rice at launch, but <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/448d2768-4310-463e-af98-dcd93cbfd05a\">a few months later said<\/a> that only wheat will be tradeable at first.<\/p>\n<p><strong>The private sector has gotten its foot in the door:<\/strong> EFG Hermes, Beltone and CI Capital will <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/448d2768-4310-463e-af98-dcd93cbfd05a\">represent the private sector<\/a> in the exchange that is otherwise dominated by state players. The firms will share a 49% stake with the National Bank of Egypt, Banque Misr and the Agricultural Bank of Egypt, while the remainder will be held by the EGX, the Internal Trade Development Authority, the General Authority For Supply Commodities, the Egyptian Holding Company for Silos and Storage, Misr Holding Company, and Misr for Central Clearing Depository and Registry.<\/p>\n<p><strong>WHILE WE\u2019RE TALKING COMMODITIES- This year\u2019s domestic wheat harvest is expected to yield an extra 1 mn tonnes<\/strong>, for a total of 9 mn tonnes, <a href=\"https:\/\/bit.ly\/3nHuCpK\">Al Mal<\/a> reports. The Agriculture Ministry is banking on a newly planted hybrid wheat variety and improved irrigation techniques to provide productivity gains. This would allow Egypt \u2014 the world\u2019s largest wheat importer \u2014 to reduce its reliance on foreign supply and import 13 mn tonnes to meet its 21 mn tonne domestic consumption needs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The launch of the long-awaited commodities exchange (Egycomex) has again been delayed, after Internal Trade Development Authority (ITDA) Chairman and Egycomex head Ibrahim Ashmawy told Al Mal that it now won\u2019t be seeing the light of day until the second half of 2021. Sources had initially hinted at a September 2020 start date, which was [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":568250,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7305],"tags":[317,2319,72,2326],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-568249","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commodities","tag-commodities","tag-egyptian-commodities-exchange","tag-enterpriseam","tag-internal-trade-development-authority","wpautop","entry"],"acf":{"mongo_id":"ea76e369-faad-4557-b1f6-15c5b295688e","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/12\/392.jpg","photo_position":"above","related_issue":[568243],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Groundhog day - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/groundhog-day\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Groundhog day\" \/>\n<meta property=\"og:description\" content=\"The launch of the long-awaited commodities exchange (Egycomex) has again been delayed, after Internal Trade Development Authority (ITDA) Chairman and Egycomex head Ibrahim Ashmawy told Al Mal that it now won\u2019t be seeing the light of day until the second half of 2021. Sources had initially hinted at a September 2020 start date, which was [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/groundhog-day\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-23T03:47:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/392.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/groundhog-day\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/groundhog-day\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Groundhog day\",\"datePublished\":\"2020-12-23T03:47:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/groundhog-day\/\"},\"wordCount\":292,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/groundhog-day\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/392.jpg?fit=%2C&ssl=1\",\"keywords\":[\"commodities\",\"Egyptian Commodities Exchange\",\"EnterpriseAM\",\"Internal Trade Development Authority\"],\"articleSection\":[\"Commodities\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/groundhog-day\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/groundhog-day\/\",\"name\":\"Groundhog day - 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The commodities exchange will start trading\u2026","rel":"","context":"In &quot;SPEED ROUND: MARKETS&quot;","block_context":{"text":"SPEED ROUND: MARKETS","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":548930,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/28\/egycomex-could-open-later-this-year\/","url_meta":{"origin":568249,"position":1},"title":"Egycomex could open later this year","author":"enterpriseam admin","date":"28 August 2022","format":false,"excerpt":"Egypt\u2019s commodities exchange (Egycomex) could go live before the end of the year, with trading of gold set to start as a first phase, Ibrahim Ashmawy, head of the Internal Trade Development Authority, told Bloomberg Asharq (watch, runtime: 15:25). Ashmawy told us back in 2020 that traders would be able\u2026","rel":"","context":"In &quot;Commodities&quot;","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":558899,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/31\/egycomex-to-go-live-in-1q2022\/","url_meta":{"origin":568249,"position":2},"title":"Egycomex to go live in 1Q2022","author":"enterpriseam admin","date":"31 August 2021","format":false,"excerpt":"Egypt\u2019s long-awaited commodities exchange (Egycomex) is set to start full operations in 1Q2022, Ibrahim Ashmawy, head of the Internal Trade Development Authority and chairman of the new exchange, told Akhbar Al Youm. The commodities exchange began trading on a pilot basis this past spring to coincide with the start of\u2026","rel":"","context":"In &quot;MARKETS&quot;","block_context":{"text":"MARKETS","link":"https:\/\/enterpriseam.com\/egypt\/category\/markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/317.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":559856,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/07\/egycomex-to-pilot-with-the-start-of-the-wheat-season\/","url_meta":{"origin":568249,"position":3},"title":"Egycomex to pilot with the start of the wheat season","author":"enterpriseam admin","date":"7 February 2021","format":false,"excerpt":"Egypt\u2019s long-awaited commodities exchange (Egycomex) will kick off trading on a pilot basis in late April or early May when the next wheat season begins, and Egypt is aiming to supply 4 mn tonnes of wheat in the coming season, Supply Minister Ali El Moselhy said, according to Mubasher. Internal\u2026","rel":"","context":"In &quot;Commodities&quot;","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/114.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":574598,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/15\/egypts-commodities-exchange-could-be-expanded-to-include-gold-steel-cotton\/","url_meta":{"origin":568249,"position":4},"title":"Egypt\u2019s commodities exchange could be expanded to include gold, steel, cotton","author":"enterpriseam admin","date":"15 September 2020","format":false,"excerpt":"Gold, steel, and cotton could eventually be on the menu for Egypt\u2019s commodities exchange: The new Egyptian Commodities Exchange (Egycomex) could expand its tradable commodities to include non-food items such as gold, steel and cotton after trading begins in the first half of next year, exchange boss Ibrahim Ashmawy told\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":574390,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/08\/ibrahim-ashmawy-appointed-chairman-of-forthcoming-commodity-exchange\/","url_meta":{"origin":568249,"position":5},"title":"Ibrahim Ashmawy appointed chairman of forthcoming commodity exchange","author":"enterpriseam admin","date":"8 September 2020","format":false,"excerpt":"Egypt\u2019s new commodity exchange just got a new chairman as we inch closer to launch: Internal Trade Development Authority Chairman Ibrahim Ashmawy has been selected to lead Egycomex, the new commodity exchange, according to Hapi Journal. 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