Algeria's state grains agency OAIC bought 450,000 tonnes of milling wheat at between $315 and $316.50 a tonne, including cost and freight, in an international tender late on Thursday, European traders said on Friday. Most of the volume would be for shipment in June and about 100,000 tonnes to be shipped in May, the traders said. The tender announcement had called for May shipment.
Traders said the volume bought was higher than expected and may be explained by Algiers covering its needs before the presidential elections later this month and the Ramadan in June. Algeria, one of the world's largest wheat importers, does not publish details of its grain tenders.