Algeria starts buying milling wheat in 2 port tender, traders say
PARIS/HAMBURG, March 18 (Reuters) -Algeria’s state grains agency OAIC has started buying milling wheat in an international tender on Monday for shipment to two ports only, European traders said in initial assessments.
The tender seeks a nominal 50,000 metric tons for shipment to the two ports only, generally indicating a relatively small purchase is planned.
Initial purchases reported were around $240 to $241 a metric ton cost and freight (c&f) included, they said.
The tonnage bought was initially unclear. Reports reflect assessments from traders and further estimates of prices and volumes are still possible later.
The wheat is sought for shipment in several periods from the main supply regions including Europe: April 1-15, April 16-30, May 1-15, May 16-31, June 1-15 and June 16-30. If sourced from South America or Australia, shipment is one month earlier.
The wheat should be unloaded in the ports of Mostaganem and/or Tenes. Algeria has also issued a separate tender to buy 50,000 tons of durum wheat.
Source Link : https://www.xm.com/research/markets/allNews/reuters/algeria-starts-buying-milling-wheat-in-2-port-tender-traders-say-53793118
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