Egypt plans to launch an agricultural-focused commodities trading exchange, the first of its kind in the Middle East, by end of 2016, Supplies Minister Khaled Hanafi said on Monday. Speaking at a press conference announcing the completion of a feasibility study on the new bourse, Hanafi said its launch would protect small farmers from volatile price swings and help to connect their output to supply chains. "Egypt is the biggest importer of grains, and it will benefit from this, turning this from a point of weakness into a strength as Egypt becomes a point of exchange for the whole region," said Hanafi. Egypt announced plans to set up a global commodities centre in 2014, but gave few details at the time. The next step is to draw up regulations and establish the electronic infrastructure that will connect traders with farmers, Hanafi added. The exchange will feature spot, derivatives and futures trading, and aims to trade about 2 million contracts in its first year, and around 9.5 million within five years, Sigma said in a presentation announcing the completion of the study. (Reuters)