Romanian Trader Wants $500,000 Back as Egypt Wheat Saga Persists
- Cerealcom Dolj has asked Egypt to return its tender deposit
- Trader won’t load 63,000-ton wheat cargo on ergot dispute
This article is for subscribers only.
Romanian agricultural trader Cerealcom Dolj has asked Egypt to return about $500,000 it put down as guarantee for wheat supplies it can no longer ship due to a dispute over the level of ergot fungus allowed.
Cerealcom’s agent in Egypt wrote to the state-run General Authority for Supply Commodities last week on behalf of the Romanian trader requesting to get back the amount, known as the performance bond, after Egyptian inspectors at the port of Constanta insisted on supplies free from ergot, said Mihai Andrei Anghel, responsible for international trading at the company. Egypt agreed to buy 63,000 metric tons of wheat from Segarcea-based Cerealcom in July, before reinstating a ban shipments containing the naturally occurring fungus.