Algeria's state grains agency OAIC has bought 450,000 to 500,000 tonnes of milling wheat from optional origins in a tender which closed on Thursday, European traders said on Friday. The north African country, one of the world's largest grain importers, does not publish details of its tenders and results reported by traders are estimates.
It has been widening its sources of wheat in recent months after its traditional supplier France suffered weather damage to its harvest this year. One leading exporter put the total bought in the most recent tender at 480,000 tonnes. The origin is optional but traders said they thought the wheat was likely to be sourced from the European Union and/or South America.
Some traders put the prices at between $195.50 to $197.50 a tonne c&f, while others put the price range at $195 to $198 a tonne c&f. The tender sought shipment between November 15 to December 15. "The December shipment period brings a greater range of optionality in the tender and I think South American wheat will come into question this time," one trader said.
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