A valuable cargo of first-class Scottish seed potatoes has reportedly been refused in Egypt. As a result, the traders face a loss of an estimated 1.5 million.
Sources report that 1,500 tons of Hermes seed potatoes from five or six suppliers are currently trapped in Alexandria, after the cargo was refused by Egyptian authorities for failing to meet the December export date by one day.
According to insiders in the sector, the price of the potatoes, the shipping costs and the cost of the return to the UK together would be around 1.5 million British pounds. Some Scottish seed potato exporters stated that the risks of international trade could now outweigh the benefits.
Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at nicholas.dekramer@economicinform.com