Egypt terminates grain contracts with Ukraine

Egypt terminates contracts for the purchase of 240 tons of wheat from Ukraine

Egypt terminated contracts for the purchase of 240,000 tons of wheat from Ukraine, Reuters reported, citing sources.

Egypt's General Directorate for the Supply of Goods (GASC) released Nibulon and Inerco from their contractual obligations.

According to the agency, the contracts were signed in December last year at prices ranging from $346 to $360 per ton. Due to the situation in Ukraine, the reserved cargo was never delivered.

In Istanbul on July 22, agreements were signed on lifting restrictions on the supply of Russian products for export and on Russia's assistance in the export of Ukrainian grain. The deal, which was signed by representatives of Russia, Turkey, Ukraine and the UN, involves the export of Ukrainian grain, food and fertilizer across the Black Sea from three ports.

According to presidential press secretary Dmitry Peskov, Russia is ready to make every effort to ensure that Ukrainian grain enters the world markets.

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Author`s name Petr Ermilin