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Algeria wheat tender purchase reached 740,000 T, traders say

A wheat purchase by Algeria’s state grains agency OAIC in an import tender last week totalled about 740,000 tonnes, more than previously estimated, European traders said on Tuesday.

Traders had last week estimated that OAIC bought up to 660,000 tonnes in the tender.

The price paid by the agency was still put at $445 a tonne, cost and freight (c&f) included, as in earlier estimates.

OAIC does not release details of its tenders and reported results reflect traders’ assessments.

The agency had sought optional-origin milling wheat for shipment Aug. 1-15 and Aug. 16-31 from its main supply regions including Europe. If wheat is sourced from South America or Australia, shipment is required one month earlier.

OAIC’s tender was one of several issued in the past week by major importers after international wheat prices retreated from high levels fuelled by Russia’s invasion of Ukraine. GRA/TENDGRA/

Egypt is due to hold a tender on Wednesday.
Source: Reuters (Reporting by Michael Hogan and Gus Trompiz Editing by David Goodman)

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