Thursday , August 6 2020

Egypt cancels wheat tender over virus supply risks

Bloomberg

The fallout from the coronavirus crisis is starting to upend wheat tenders in the world’s top importer.
In a rare move, Egypt cancelled a tender within hours of announcing it, without giving a reason. The state buyer added a new clause requiring suppliers to replace any cargoes affected by virus-related restrictions with wheat from elsewhere, and bear the difference in costs, according to people familiar with the matter.
The cancellation of the tender — which would have been Egypt’s first since February — highlights how the pandemic is threatening trade flows.

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