Algeria buys around 400,000 T milling wheat in tender
Algeria’s state grains agency OAIC purchased around 400,000 tonnes of milling wheat to be sourced from optional origins in an international tender that closed on Tuesday, European traders said on Wednesday.
Some trade estimates put the purchase at about 450,000 tonnes.
First assessments put prices paid at about $245 a tonne c&f. Some traders put the price range at between $244 and $246 a tonne c&f.
Algeria does not disclose the results of its tenders and purchase reports are based on trade assessments.
The wheat was sought for shipment in two periods, March 1-15 and March 16-31. But if sourced from South America, shipment is earlier, between Feb. 1-15 and Feb. 16-29.
France is expected to supply part of the total bought, traders said. Algeria is France’s most important export customer.
In its last reported tender on Dec. 5, Algeria purchased about 500,000 tonnes of milling wheat at about $227 to $228 a tonne c&f.
European wheat futures in Paris rose to their highest in about 1-1/2 years on Tuesday, supported by rising U.S. markets and continued transport problems in France due to strikes to protest against the country’s pension reform, traders said.
Source: Reuters (Reporting by Michael Hoganm Gus Trompiz and Sybille de La Hamaide; Editing by Susan Fenton and Mark Potter)