Well, Who'd have Thought It Eh?

It turns out that some cheeky little chappies have been buying Russian feed wheat and shipping it to Egypt whereupon it magically becomes milling wheat.

No wonder that certain Egyptian trading companies were winning the tenders by $10-20/tonne on a regular basis.

There's likely to be some severely slapped wrists over this lot at the very least. I wonder how come this has only come to light now? I don't imagine somehow that this was the very first time it had happened do you?

More likely someone in authority caught his missus "in flagrante" with a large Egyptian shipper. Or is it just me who thinks like that?

The upshot of it all seems to be that it has been agreed between the two countries that Egypt will no longer buy Russian wheat via third parties, and only accept official Russian state quality certificates.