PMEX records first electronic rice trade

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.

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