HAMBURG: Algeria’s state grains agency OAIC is believed to have purchased around 450,000 to 500,000 metric tons durum wheat in a tender which closed on Tuesday, European traders said on Wednesday.
Traders had reported the purchase on Tuesday evening but had not been able to estimate the volume bought.
Trader price estimates early on Wednesday were similar to Tuesday evening.
Prices for the purchases were again seen at around $455 a ton c&f for larger Panamax shipments expected to be sourced from Canada and Australia and about $470 a ton c&f more for smaller handymax shipments, mostly from Canada.
There was market talk that about 50,000 to 100,000 tons of Mexican durum was bought at markedly lower prices as low as $435 a ton c&f.
Canadian purchases were said to involve Canada western amber durum (CWAD) and some estimates of the Canadian volume bought were up to 300,000 tons.
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Shipment was sought in four periods in 2024 between Jan. 1-15, Jan. 16-31, Feb. 1-15 and Feb. 16-29. Algeria does not disclose the results of its tenders and results reported are based on trader assessments. New estimates of prices and volume are still possible later.
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