Egypt to establish agricultural commodities exchange for better efficiency in import-dependent products

Egypt is to establish an agricultural commodities exchange to control imports of major agricultural products such as wheat, barley, rice, sugar, and edible vegetable oils.
The commodity exchange will be governed by the international trade agency under the government and will operate a budget of nearly $6 million.
The goal is to secure stocks of major commodities at better prices and to enable Egyptian traders to operate more efficiently with those commodities that are foreign dependent.
Egypt is quite a strong exporter of citrus products, grows rice as well however, does not trade with rice as the quantities cultivated are sufficient to meet the domestic demand only.