Delayed Payments and Broken Deals Involve Egypt’s State Grains Buyer

Mounting trade tensions earlier this year resulted in a drop in Egypt’s wheat imports and triggered a shake-up at the country’s new state grains buyer, according to trade and industry sources. Egypt is one of the world’s top wheat importers due to its bread subsidy program, but the new agency Future of Egypt faced issues with delayed payments and broken deals. This agency, linked to the military, switched from formal tenders to informal negotiations, causing strain with suppliers. The recent appointment of former GASC official Yousria Yusry Mohamed has helped restore trust and confidence among global suppliers.