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Africa North
Fraudsters fleece Egypt using foreign wheat
2012-06-02
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.
Sucks to live in a dictatorship. Especially a dictatorship that's incompetent, broke and besotted with religion.
Posted by:tipper

#4  Should have been made into Vodka, like it was intended to be.

Serves em right.
Posted by: bigjim-CA   2012-06-02 18:46  

#3  Must be a bitch to peel all them little 'Grown in the USA' stickers of the wheat kernels....
Posted by: USN,Ret   2012-06-02 17:25  

#2  "besotted with religion"

Besotted with Islam, I presume you mean. Or have all those zerohedge links made you into an anti-theist?
Posted by: gromky   2012-06-02 15:34  

#1  If it's that much longer until the food riots begin, I'm all for it.
Posted by: trailing wife   2012-06-02 14:02  

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