PMEX records first electronic rice trade
MG News | April 23, 2026 at 09:41 AM GMT+05:00
April 23, 2026 (MLN): Pakistan’s commodity market
marked a historic milestone, as the first electronic trade of a locally grown,
long-grain deliverable rice contract was successfully executed at Pakistan
Mercantile Exchange Limited (PMEX).
Nida Tirmizi, General Manager at Meskay & Femtee Trading
Company (Pvt.) Ltd., placed the first sell order.
Minutes later, at around 4:42 PM, Om Prakash, a Hindu rice trader, entered the first buy order,
completing PMEX’s inaugural electronic rice trade.
The contract was valued at Rs862,500, but its significance
extended far beyond price.
The transaction symbolized a major step toward inclusive
participation in Pakistan’s agricultural markets, transparent price discovery,
and the advancement of Shariah-compliant, delivery-based commodity trading, according
to a LinkedIn post by Khurram Zafar, CEO at PMEX.
Within an hour of the session, 16 trades were recorded, with
a total of 170 metric tonnes of rice exchanged under exchange supervision.
The pilot session is part of a broader rollout plan, with
PMEX preparing to gradually open trading to brokers and the general public.
The achievement reflects over a year of coordinated effort
by the PMEX team, alongside key stakeholders including Meskay & Femtee
Trading Company (Pvt.) Ltd., Naymat Collateral Management Company Limited, SGS,
MetaQuotes Ltd., and regulatory support from SECP.
Copyright Mettis
Link News
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 179,571.27 436.67M | 1.06% 1878.35 |
| ALLSHR | 108,600.94 844.23M | 1.00% 1073.54 |
| KSE30 | 53,548.42 162.02M | 0.99% 525.53 |
| KMI30 | 256,725.70 154.74M | 0.76% 1936.43 |
| KMIALLSHR | 70,620.69 563.61M | 0.98% 683.55 |
| BKTi | 48,625.03 36.31M | 1.37% 658.39 |
| OGTi | 37,179.52 8.29M | 0.94% 345.85 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 61,990.00 | 63,160.00 61,980.00 | -375.00 -0.60% |
| BRENT CRUDE | 73.97 | 77.00 73.88 | -3.11 -4.03% |
| RICHARDS BAY COAL MONTHLY | 115.00 | 0.00 0.00 | 0.50 0.44% |
| ROTTERDAM COAL MONTHLY | 126.50 | 126.50 125.90 | 0.50 0.40% |
| USD RBD PALM OLEIN | 1,157.50 | 1,157.50 1,157.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 70.44 | 73.18 70.36 | -2.77 -3.78% |
| SUGAR #11 WORLD | 13.98 | 14.04 13.81 | 0.03 0.22% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|
Monetary Aggregates (M3) - Monthly Profile