In order provide protection to small farmers and producers and make their stocks available to the markets, Egypt announced to set up a commodities exchange that will have about $5.78 million in capital.

Initially, the exchange will sugar, wheat, oils, and rice beginning in the first half of 2021.

Egypt, the world’s largest wheat importer, said the commodities exchange will be chaired by Ibrahim Ashmawy, the current head of the internal trade development authority.