Algerian wheat purchase in tender at least 660,000 tonnes -traders
Algeria’s state grains agency OAIC is believed to have bought at least 660,000 tonnes of milling wheat in an international tender on Monday, European traders said in estimates on Tuesday.
This was above the 590,000 metric tons estimated by most traders on Monday. Some estimates of the purchase on Tuesday went as high as 810,000 metric tons.
Price estimates were around the same as earlier assessments, with most wheat said to have been bought at around $276 a metric ton c&f.
The sales are technically sourced from optional origins but traders expected Black Sea wheat to be supplied heavily, especially from Russia, Romania and Bulgaria.
Results reflect assessments from traders and further estimates of prices and volumes are still possible later.
The wheat was sought for shipment in two periods from the main supply regions including Europe: Oct. 1-15 and Oct. 16-31. If sourced from South America or Australia, shipment is one month earlier.
Algeria does not release results of its tenders and reports are based on trade estimates. Algeria is a vital customer for EU wheat, especially from France, but Russian grain has been aggressively expanding its presence in the Algerian market recently.
Source: Reuters (Reporting by Michael Hogan in Hamburg and Gus Trompiz in Paris)
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