GASC has not issued letters of credit for 16 wheat shipments

Gov’t dismisses traders’ claim of delay in letters of credit for wheat shipments: The government has responded to a Reuters report quoting traders who claimed state grain buyer GASC has not issued letters of credit to cover 16 wheat shipments, saying guarantees either have been or would be issued, the news agency reported.

Size matters: Delays have happened before, but this time the combined size of the wheat shipments is massive — 945k tonnes — with shipping dates as far back as last month, the traders said. They said they were not aware of the reason behind the delay, but that GASC had blamed it on the Finance Ministry and said to expect it drag it on until January.