Daily Management Review

Egypt terminates contracts for 240 thousand tons of Ukrainian wheat


According to Reuters, Egypt has cancelled contracts for the purchase of 240,000 tons of wheat from Ukraine that were to have been delivered in December 2021.

According to the organization, Nibulon and Inerco companies were "freed" from their contractual responsibilities by Egypt's General Authority for the Supply of Goods (GASC).

The report claims that Egyptian officials purchased grain in December at a cost of $346 to $360 per ton. The reserved cargo has not arrived as a result of the circumstances in Ukraine.

Russian Foreign Minister Sergey Lavrov earlier stated at a press briefing in the Egyptian capital that Russian grain exporters confirm their commitment to agreements on delivery to Cairo.

source: reuters.com