Algeria bought about 630,000 tonnes to 660,000 tones wheat in tender
- Initial estimates late on Wednesday put the purchase at between 500,000 tonnes to about 660,000 tonnes.
- It was mostly believed to have been purchased at between $312 to $313 a tonne c&f, traders said.
HAMBURG/PARIS: Algeria's state grains agency OAIC is believed to have purchased about 630,000 to 660,000 tonnes of optional-origin milling wheat in an international tender which closed on Wednesday, European traders said in assessments on Thursday.
Initial estimates late on Wednesday put the purchase at between 500,000 tonnes to about 660,000 tonnes.
It was mostly believed to have been purchased at between $312 to $313 a tonne c&f, traders said, also confirming initial assessments on Wednesday. Some traders put the highest price at $314 a tonne.
Eight to nine trading houses are believed to have made sales. Algeria does not release the results of its tenders and reports are based on trade estimates.
"I think some could be supplied from Argentina but the bulk of the purchase will be sourced from the European Union," one trader said.
The EU supplies would mostly come from France, with more also expected to come from Germany, Poland and Sweden.
The wheat can be sourced from optional origins and is sought for shipment in two periods from the main supply regions including, March 1-15 and March 16-31. If sourced from South America or Australia, shipment is between Feb. 1-15 and Feb. 16-28.
In its previous tender which closed last week, OAIC purchased about 390,000 tonnes at the lowest price of $312.50 a tonne c&f.
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