Egypt end week in red, benchmark EGX 30 drops 0.56%    Egypt's stocks close in red on Tuesday as benchmark EGX 30 falls 0.72%    Fitch affirms Egypt's long-term foreign currency issuer default rating at B+    The unvaccinated prohibited from entry to Egypt state institutions starting December 1    Russia to lift COVID restrictions on flights to Egypt's Red Sea resorts on Nov. 9    Egypt, Greece ink deal for first subsea power link between Europe and Africa    Egypt hosts regional conference of EU refugee agency EASO    SCOHRE sparks discussion on harm reduction, tobacco control    Egypt to receive first of six high-trains from Spain's Talgo in mid-November    Egypt's iron and steel exports jump 197% in 8 months    Ethiopia halts work at its embassy in Egypt for 'economic reasons'    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Over 100 officials resign from Tunisia's main Islamist party    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egyptian court bans use of mosques for political purposes    Brazil calls up 8 EPL players for World Cup qualifying    Refugees in fear as sentiment turns against them in Turkey    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Sisi calls on House, Senate to commence second legislative sessions on 3, 5 October    Huawei Technologies has invested $10 mln over 5 years in innovation centres in Egypt    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    Qa'a play showing at Lycee El Horreya Theatre, Alexandria is a must go    Orange Egypt Introduces Amazon Prime Video    Tokyo Olympics: Cautious opening ceremony, shy start for Egyptians in competitions    Mallawi Museum in Upper Egypt holds recycling workshop for children during Eid Al-Adha    Egypt keen on stable tax policies to attract more investors: Finance Minister    Sudan declares state of emergency as water goes beyond Merowe Dam capacity    Niagara Falls illuminated in Egyptian flag to mark 23 July Revolution anniversary    Capital flows into EM keep recovering after March 2020 slump: Central Bank of Egypt    1 child orphaned every 12 seconds due to COVID-19-associated death: World Bank    Egypt, Japanese Olympic Committee discuss boosting sports cooperation    US emphasises AU's role in mediating Ethiopian damdispute    Ethiopia ready to resume dam talks with no legally binding agreements: Ethiopian official    Sunken city of Thônis-Heracleion in Egypt's Abu Qir bay yields new archaeological treasures    New films, concerts, and destinations for Eid Al-Adha holidays    Egypt, Oman discuss enhancing bilateral economic, investment relations    Al Ahly v Kaizer Chiefs: Cairo giants eye 10th CAF Champions League title    Tunisia hopes to have a UN role in resolving Egypt-Ethiopia dam dispute    APO Group enters new exclusive agreement with Getty Images on African press releases and images    On International Museum Day, Egypt opens two new museums at Cairo Airport    Old Cairo's Al-Fustat will be revamped on Egyptian President's directives    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egypt's commodity exchange to start trading in cotton next year – minister
Published in Amwal Al Ghad on 28 - 09 - 2021

Egypt's commodity exchange (EGYCOMEX) will start operations with trading in cotton starting next year, Public Enterprise Minister Hisham Tawfik announced on Monday.
Some 160 cotton collection points, including 21 across cities in Upper Egypt and 181 in Lower Egypt, were chosen, prior to the harvest time across the country for farmers wishing to offer their harvest on EGYCOMEX, Tawfik added.
The minister further said the Egyptian commodities exchange had already trial operations for two years.
During a symposium held by the Egyptian Businessmen Association (EBA), Tawfik said that the country is investing more than 21 billion Egyptian pounds ($1.3 billion) to upgrade the spinning and weaving sector.
The ministry's plan includes merging 23 spinning and weaving companies into eight entities, along with merging cotton trading and ginning companies into one, he noted.
Last month, Ibrahim Ashmawy, EGYCOMEX head, said the commodities exchange is set to start full operations in the first quarter of 2022, having in its agenda to trade in wheat, iron, gold, cotton, grains, frozen poultry, and sugar.


Clic here to read the story from its source.