The General Authority for Supply Commodities (GASC) has started offering yellow corn on the Egyptian Mercantile Exchange (EMX) as of April 13th, Ibrahim Ashmawy, Chairman of the EMX, announced.
Through this move, the state grains buyer aims at increasing the supply of yellow corn for the benefit of young poultry farmers by offering the corn to poultry fodder factories with production capacities of 20 to 100 tons per day, hence, the factories shall resell fodders to young farmers at fair prices.
Two sessions will be held weekly for selling the yellow corn; on Mondays and Thursdays.
GASC is set to offer another stake of yellow corn in a special session on the EMX April 25th
Ashmawy revealed that about 570,000 tons of wheat have been traded on the EMX so far in 38 sessions for an average of 100 millers per session.
One of the goals of EMX is to stabilize the prices of the traded commodities and to boost the strategic stock of goods that may reach 8 and 9 months.
