Algeria buys wheat in tender for shipment to 2 ports, traders say
In Hamburg, Algeria’s state grains agency OAIC reportedly conducted a successful international tender for milling wheat, focusing on limited shipments to ports in Mostaganem and Tenes. Traders suggest the purchase was priced around $246 per metric ton cost and freight (c&f) for Mostaganem and $253 per ton c&f for Tenes. The wheat, optional origin but likely sourced from the Black Sea region, is scheduled for shipment across various periods from September to October.
HAMBURG, July 9 (Reuters) -Algeria’s state grains agency OAIC is believed to have bought milling wheat in an international tender on Tuesday which sought limited shipment to two ports only, European traders said.
The volume was unclear. The requirement to unload the wheat only in the harbours of Mostaganem and/or Tenes in two port tenders from the OAIC generally signals that a relatively small purchase will be made, traders said.
Purchases reported were around $246 a metric ton cost and freight (c&f) included for shipment to Mostaganem and $253 a ton c&f for shipment to Tenes, they said.
The wheat was optional origin but some was thought likely to be sourced from the Black Sea region.
The wheat was sought for shipment in several periods from the main supply regions including Europe: Sept. 1-15, Sept. 16-30, Oct. 1-15 and Oct. 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. Results reflect assessments from traders and further estimates of prices and volumes are still possible later.
In its previous two-port wheat tender on June 26, Algeria bought about 130,000 to 150,000 tons at around $248 to $250 a ton c&f.
Source Link : https://www.xm.com/research/markets/allNews/reuters/algeria-buys-wheat-in-tender-for-shipment-to-2-ports-traders-say-53876986
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