October 1, 2019 / 2:21 PM / a month ago

UPDATE 1-Egypt stock exchange in venture with supply ministry on commodities exchange

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CAIRO, Oct 1 (Reuters) - Egypt’s stock exchange will form a joint venture with the country’s Supply Ministry in October to manage a planned commodities exchange, bourse Chairman Mohamed Farid said on Tuesday.

Farid said the exchange would be for “spot commodities that have large markets and are able to be stores,” but did not give further details.

Egypt has for years floated the idea of setting up a commodities exchange, but is yet to create one. It said in 2014 that it wanted to set up a global commodities centre but gave few details.

In 2016, the supply ministry said the commodities trading would include agricultural commodities as well as oil and gold. (Reporting by Ehab Farouk; Writing by Nadine Awadalla and Maha El Dahan; Editing by Alison Williams and David Evans)

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