Algeria bought estimated 720,000 tonnes milling wheat in tender -traders
Algeria’s state grains agency OAIC is believed to have purchased around 720,000 tonnes of optional-origin milling wheat in an international tender which closed on Tuesday, European traders said on Wednesday.
This was up from about 660,000 tonnes reported by traders in initial estimates on Tuesday. OAIC was thought to have paid about $384 a tonne, cost and freight included, for the entire volume, the same price cited by traders on Tuesday in initial assessments.
Traders expected much of the purchase to be sourced from France, but an additional 60,000 tonne consignment thought likely to be sourced from Russia was also reported on Wednesday.
Algeria, one of the world’s largest wheat importers, does not release details of its tenders and reported results reflect trade estimates.
Tuesday’s tender requested shipment from main supply regions, including Europe, in three periods: Sept. 21-30, Oct. 1-15 and Oct. 16-31. If sourced from South America or Australia, shipment is one month earlier.
Source: Reuters (Reporting by Michael Hogan in Hamburg and Gus Trompiz in Paris )