date:Mar 27, 2019
Egypt, the worlds largest wheat importer, will go back to paying its grain suppliers within 180 days instead of immediately, a government source and traders said on Monday.
Egypts state grain buyer GASC had said in January it would start immediate on-sight payment after obtaining financing from Islamic Trade Finance Corp. for its international purchasing tenders.
Before that announcement, GASC had for years used a deferred payment system introduced at a time when foreign-exchange shortages pla