Algeria believed to buy about 450,000 tonnes wheat in tender – traders
Algeria’s state grains agency OAIC is believed to have purchased a total of around 450,000 tonnes of optional-origin milling wheat in an international tender this week, European traders said in assessments on Thursday.
The purchase was all said to have been made at around $466 a tonne c&f, the same price as reported in initial volumes bought on Wednesday evening. More detailed estimates of tonnes bought and prices are still possible later.
Some traders said they expect some wheat from France to supplied for the purchase. Others said they expected exporting countries in the Black Sea region to be sources.
The wheat was sought for shipment in two periods from the main supply regions including Europe: July 1-15 and July 16-31. If sourced from South America or Australia, shipment is one month earlier.
Algeria does not release results of its tenders and reports are based on trade estimates. Algeria is a vital customer for wheat from the European Union, especially France.
Source: Reuters (Reporting by Michael Hogan in Hamburg and Gus Trompiz in Paris )