Algeria buys 500,000 T to 930,000 T wheat in tender – traders
HAMBURG/PARIS, Dec 12 (Reuters) – Algeria’s state grains agency OAIC has bought at least 500,000 metric tons to around 930,000 tons of milling wheat in an international tender which closed on Tuesday, European traders estimated.
Purchases reported were around $273 a metric ton, cost and freight (c&f) included, they said.
The precise volume bought was unclear, but traders said they believed a substantial purchase had been made.
Most trader estimates of the purchase ranged from 500,000 tons to 700,000 tons. But some put the purchase as high as 930,000 tons.
The Black Sea region, including the European Union, was expected to supply a large part of the purchase. But some French trading houses had also made sales, they said.
Algeria does not release results of its tenders and reports are based on trade estimates, further estimates of prices and volumes are expected later.
The wheat was sought for shipment in 2024 in four periods from the main supply regions including Europe: Feb. 1-15, Feb. 16-29, March 1-15 and March 16-31. If sourced from South America or Australia, shipment is one month earlier.
Algeria is a vital customer for wheat from the European Union, especially France, but Russian exporters have been expanding strongly in the Algerian market.
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