Trade and shipping sources in Egypt are concerned that difficulties processing letters of credit (L/Cs) may cause grain shortages in the country.

Egypt, the world's largest importer of wheat, remains in a state of flux since a popular uprising brought many aspects of normal life to a halt more than two weeks ago.

L/C concerns

Trade sources in Egypt are reported as saying that some grain dealers are worried that L/Cs would not be paid due to limited banking hours.

Egyptian banks were closed for a week until Sunday 6 February when they opened with restricted opening times from just 10am until 1.30pm local time.

Ports open

Local reports say that despite civil disturbances in some of Egypt's major population centres, the country's ports are operating with no delays.

This means that, for the time being at least, grain imports are still able to reach Egyptian markets.

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