A delay by Egypt 's state grain buyer in issuing letters of credit for wheat shipments has caused concern for traders . GASC’s The General Authority for Agricultural Commodities ( GASC ) has not issued letters of credit for 16 recent shipments , according to sources . Traders said the GASC has also asked wheat suppliers for 11 December to 15 December shipments to either delay shipments until January or to proceed without letters of credit , which delays payment . It is unclear why the delays are happening , but in the past acute shortages of foreign currency have led to delays in payment .
A delay by Egypt 's state grain buyer in issuing letters of credit for wheat shipments has caused concern for traders . The General Authority for Agricultural Commodities ( GASC ) has not issued letters of credit for 16 recent shipments , according to sources . Traders said the GASC has also asked wheat suppliers for 11 December to 15 December shipments to either delay shipments until January or to proceed without letters of credit , which delays payment . It is unclear why the delays are happening , but in the past acute shortages of foreign currency have led to delays in payment .