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Fraudsters fleece Egypt using foreign wheat
Traders and a government official admitted that despite efforts to check whether local farmers really grow the grain they sell, the problem of disguising imported wheat to profit from the payments will remain or worsen this year as the rewards grow."In reality it happens every year, this year it's happening even more because the spread is bigger (between cheap origins andEgypt's local wheat price)," a trader said. "It was Ukrainian, some Russian, some Argentine, but mainly Ukrainian this year." Evidence of the problem comes from the fact that purchases of local grain remain brisk even though a shortage of diesel for farm machinery since the start of the year should, in theory, be holding back local output.
Posted by: tipper 2012-06-02 |
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| http://www.rantburg.com/poparticle.php?ID=345853 |