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Wheat prices are declining globally despite the conflict that impacts the exports of the two major producers, Russia and Ukraine, with economists attributing the decline to sluggish global growth and warning against counter effects
Egypt has been deferring payments for shipments of wheat, vital for its extensive bread subsidy program, according to Supply and Internal Trade Minister Aly Moselhy and traders who spoke to Reuters. Wheat suppliers interviewed by Reuters said that banks working with the General Authority for Supply Commodities (GASC) have delayed opening 180-day letters of credit—letters
Deferred payments for wheat imports are to relieve financial pressures caused by lack of foreign currency, official said
CAIRO (Reuters) - Egypt has deferred payments for its large wheat purchases, in some cases by months, according to a government official and traders, as the country grapples with a shortage of hard currency. | 10:15am
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Egypt has deferred payments for its large wheat purchases, in some cases by months, according to a government official and traders, as the country grapples with a shortage of hard currency.