Algeria wheat purchase lower than thought at 340,000 T

PARIS: Algeria's state grains agency OAIC bought 340,000 tonnes of milling wheat in a tender on Tuesday, less than the 460,000 tonnes initially estimated, European traders said on Wednesday.

OAIC does not publish details of its grain import tenders and results reported by traders are estimates.

Traders said OAIC paid between $223 and $226 a tonne, cost and freight (C&F), for the wheat. Earlier estimates had given a wider price range of $220-$226, although most of the purchase was thought to have been made at $225-$226.

The tender sought shipment in April or May, depending on the origin.