Algeria buys at least 600,000 T milling wheat, traders say
Algeria’s state grains agency OAIC has purchased 600,000-800,000 tons of milling wheat in an international tender, with prices estimated at $241-244/ton cost and freight. The wheat is sought for shipment in 2024, with supply regions including Europe, South America, and Australia. Traders suspect Black Sea region wheat, including Russian, Ukrainian, and Bulgarian, will be supplied. This purchase highlights Algeria’s importance as a customer for EU and Russian wheat exporters, with Russian exporters expanding their market share in Algeria.
Adds additional estimates of purchase of up to 800,000 tons
HAMBURG/PARIS, July 17 (Reuters) -Algeria’s state grains agency OAIC has bought at least 600,000 metric tons of milling wheat in an international tender that closed on Wednesday, European traders said.
Some trader estimates put the volume as high as 700,000 to 800,000 tons.
The purchase price range was estimated by most traders at $241 to $244 a ton cost and freight (c&f).
Algeria’s purchases in tenders are optional origin, but traders suspected that wheat from the Black Sea region, including Russia, Ukraine and Bulgaria, would be supplied.
Reports reflect assessments from traders and further estimates of prices and volumes are possible later.
The wheat was sought for shipment in 2024 in two periods from the main supply regions including Europe for Sept. 1-15 and Sept. 16-30. If sourced from South America or Australia, shipment is one month earlier.
Algeria is an important customer for wheat from the European Union, especially France, but Russian exporters have been expanding strongly in the Algerian market.
Source Link : https://www.xm.com/research/markets/allNews/reuters/algeria-buys-milling-wheat-in-tender-traders-say-53882628
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