http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns
Lebanon bought the bulk of its wheat from Ukraine until Russia invaded, and the World Bank has warned it is one of a number of developing countries that face near-term wheat supply shortages as a result.
Lebanon is planning a tender to import 50,000 tonnes of wheat from India but the timing depends on the Lebanese central bank opening the necessary credit line, the economy minister told Reuters, as Beirut seeks alternatives to Ukrainian grain.
Lebanon bought the bulk of its wheat from Ukraine until Russia invaded, and the World Bank has warned it is one of a number of developing countries that face near-term wheat supply shortages as a result.
The Lebanese government has asked the central bank for a $26 million advance to launch the tender, economy minister Amin Salam said, adding that the tender would be launched very quickly once the credit line was opened.
"India is the first state to give me a final answer on quantities and tomorrow it will give me answer on the price," Salam said.
Lebanon was still waiting to hear from the United States and Kazakhstan on specifications and prices, he said.
"We still have a few purchases that are coming in the next week (from Ukraine)," he said, adding that 26,000 tonnes was on its way. "But after that we are not sure what we can get from Ukraine."