Several wheat shipments that had been stranded at Egyptian ports for weeks due to payment delays have now been cleared to unload, after the issues were resolved, Egypt’s state grain buyer Mostakbal Misr confirmed on Thursday.
According to traders, around eight vessels carrying nearly 200,000 metric tons of wheat had been stuck since early October, following delays in clearing letters of credit. The holdup disrupted unloading operations at Egyptian terminals and led to additional costs for shipowners.
“The payment problems for a number of wheat cargoes delayed in Egyptian ports have been swiftly settled,” Mostakbal Misr said in a statement. “As of Wednesday evening, the matter has been resolved and ships are already offloading gradually now.”
The agency attributed the payment bottleneck to new regulations introduced by Egypt’s central bank, which tightened verification procedures for letters of credit and checks on the origin of imported goods.
“While Mostakbal Misr was not involved in the delay, we acted swiftly together with the central bank and suppliers to ensure the matter was resolved quickly,” the statement added.
Egypt, one of the world’s largest wheat importers, depends heavily on imports to supplement its domestic harvest. The grain is essential for producing subsidised bread—a vital staple for tens of millions of Egyptians every day.