HAMBURG/PARIS: Algeria’s state grains agency OAIC is believed to have bought around 360,000 to 390,000 tonnes of milling wheat in an international tender this week, European traders said on Thursday. Price estimates on Thursday were around the same as earlier assessments, ranging from $329 a tonne cost and freight (c&f) purchased on Tuesday night to around $332 a tonne c&f bought on Wednesday.
Purchasing had started on Tuesday night, then negotiations were suspended and resumed on Wednesday. More estimates of tonnes bought and prices are still possible. Technically supplies are optional origin. Wheat from the Black Sea region, especially from Russia, was expected to be used to supply a large part of the purchase, traders said.
However, at least one consignment was expected to come from France. The wheat was sought for shipment in two periods from the main supply regions including Europe: April 1-15 and April 16-30. If sourced from South America or Australia, shipment is one month earlier.
Algeria is usually the largest export market for European Union wheat, with France the main EU supplier. Algeria does not release results of its tenders and reports are based on trade estimates.
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