DUBAI, April 7 The Dubai Gold and Commodities
Exchange (DGCX) is planning to launch agricultural commodities
contracts in the first quarter of 2015, the bourse's chief
executive officer said on Monday.
"That's something we really want to do, as we want to be
able to diversify the products that we list on the exchange,"
Gary Anderson told Reuters on the sidelines of a precious metals
conference in Dubai.
"We have currencies, equities, energy, precious metals and
copper and so by listing agricultural products it provides new
contracts for our members to participate in," he said.
Anderson did not specify which agricultural commodities the
exchange was considering but said there was strong support from
some Dubai-based agricultural entities for the launch of two
"There are two contracts in particular where we think there
is good backing from organizations that would like to see a
contract created on DGCX that would help create a benchmark for
those goods," he said.
Large volumes of some agricultural goods such as wheat, rice
and pulses are re-exported through Dubai, according to Anderson,
creating a need for a benchmark price mechanism.
(Reporting by Maha El Dahan; editing by Keiron Henderson)