{"id":548183,"date":"2022-07-28T03:44:16","date_gmt":"2022-07-28T03:44:16","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/28\/egypt-pulls-plug-on-contracts-for-stranded-ukrainian-wheat\/"},"modified":"2022-07-28T03:44:16","modified_gmt":"2022-07-28T03:44:16","slug":"egypt-pulls-plug-on-contracts-for-stranded-ukrainian-wheat","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/28\/egypt-pulls-plug-on-contracts-for-stranded-ukrainian-wheat\/","title":{"rendered":"Egypt pulls plug on contracts for stranded Ukrainian wheat"},"content":{"rendered":"

<\/a> GASC cancels contracts for stranded Ukrainian wheat: <\/strong>The General Authority for Supply Commodities (GASC) has pulled the plug on contracts for 240k tons of stranded Ukrainian wheat booked earlier this year, sources told Reuters<\/a>. The four cargoes were booked for February and March delivery but never set sail due to the Russian invasion in February. The newswire reported in May<\/a> that around 300k tons of wheat booked by Egypt were stuck in Ukrainian ports. The state grains buyer has released the companies responsible from their contractual obligations, despite their contracts not including a force majeure (unforeseeable circumstances) clause.<\/p>\n

Things could be looking up soon:<\/strong> Russia and Ukraine signed a landmark agreement<\/a> to resume grain exports through the Black Sea last week in a move aimed at averting a global food crisis. Ukraine said<\/a> that it could start exporting the grain as soon as this week.<\/p>\n

Crypto cometh? <\/strong>Bahrain-based cryptocurrency trading platform <\/strong>CoinMENA<\/a><\/strong> has expanded <\/strong>service to Egypt<\/strong> and is now allowing residents to open accounts, link their bank accounts, and trade crypto. The CBE maintains a blanket ban on crypto in Egypt.<\/p>\n","protected":false},"excerpt":{"rendered":"

GASC cancels contracts for stranded Ukrainian wheat: The General Authority for Supply Commodities (GASC) has pulled the plug on contracts for 240k tons of stranded Ukrainian wheat booked earlier this year, sources told Reuters. The four cargoes were booked for February and March delivery but never set sail due to the Russian invasion in February. 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The lowest offer GASC received for the first\u2026","rel":"","context":"In "Basic Materials + Commodities"","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":548415,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/08\/egypt-to-renegotiate-canceled-ukraine-wheat-contracts\/","url_meta":{"origin":548183,"position":2},"title":"Egypt to renegotiate canceled Ukraine wheat contracts","author":"enterpriseam admin","date":"8 August 2022","format":false,"excerpt":"Egypt will sign new agreements with suppliers of Ukrainian wheat to replace contracts it canceled last month, Ukrainian media reported yesterday. State grains buyer GASC terminated contracts for 240k tons of stranded Ukrainian wheat after they remained stuck in the country for months due to Russia\u2019s blockade of the country\u2019s\u2026","rel":"","context":"In "Commodities"","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/187.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":604635,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/09\/gasc-purchases-350000-tonnes-of-wheat\/","url_meta":{"origin":548183,"position":3},"title":"GASC purchases 350,000 tonnes of wheat","author":"enterpriseam admin","date":"9 December 2018","format":false,"excerpt":"The General Authority for Supply Commodities purchased 350,000 tonnes of wheat last Thursday in an international tender, according to Reuters. Nearly 83% of the purchase is of Russian wheat, with the rest being Ukrainian. Delivery is scheduled between 21 and 31 January.","rel":"","context":"In "Basic Materials + Commodities"","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":547784,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/egypt-buys-444k-tons-of-wheat-directly-from-traders\/","url_meta":{"origin":548183,"position":4},"title":"Egypt buys 444k tons of wheat directly from traders","author":"enterpriseam admin","date":"6 July 2022","format":false,"excerpt":"Another big wheat buy: Egypt purchased 444k tons of Russian, French and Romanian wheat directly from traders yesterday, traders said. State grains buyer GASC paid USD 416 a ton on a cost and freight basis (CFR), they said.The breakdown: GASC reportedly bought 214k tons of Russian wheat, 170k tons of\u2026","rel":"","context":"In "Commodities"","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/139.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":600766,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/10\/gasc-buys-300k-tonnes-of-wheat\/","url_meta":{"origin":548183,"position":5},"title":"GASC buys 300k tonnes of wheat","author":"enterpriseam admin","date":"10 February 2019","format":false,"excerpt":"The General Authority for Supply Commodities (GASC) purchased 300,000 tonnes of wheat on Friday due for shipment between March 21-31, Reuters reports. The purchase includes 120,000 tonnes of US soft red wheat, 120,000 tonnes of French wheat and 60,000 tons of Ukrainian wheat. GASC\u2019s second purchase of European wheat in\u2026","rel":"","context":"In "Basic Materials + Commodities"","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/548183","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=548183"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/548183\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/548164"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=548183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=548183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=548183"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=548183"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=548183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}