Suppliers to Default on Libyan Grain Deal?

Reuters reports that the rising price of wheat on world markets could jeopardise a recent Libyan grain deal.

The contract, agreed on 4th July, was for the supply of 50,000 tonnes of milling wheat.

"A lot of people will be surprised if that deal goes through as it looks like a loss-maker," one dealer told the news agency.

Private and state buyers who held off purchasing a month ago now face a huge rise in bills if they have to buy at current high prices.

(Source: Reuters)