Algeria buys 600,000 T wheat, pays less than last time

PARIS: Algeria's state grains agency OAIC purchased 600,000 tonnes of milling wheat at around $247-$247.50 a tonne, cost and freight included, in a tender that closed on Thursday, European traders said.

The prices paid were seen as aggressive and represented a sharp decrease compared with the $261.50-$262 a tonne Algeria paid in its previous tender in early January.

The origin of the wheat will be decided by the seller but was expected to be sourced mostly from France, Algeria's main supplier, they said.

The tender called for shipment in two periods, March 16-31 and April 1-15, except for South American origins which should be loaded in March.

However, Argentine wheat, which has claimed a run of sales to Algeria this season, was not expected to be in contention after a recent price rise in the country, traders said.

There were five sellers, they said.

Algeria, one of the world's largest grain importers, does not disclose details of its tenders and results reported by traders are estimates.