Markets

Algeria's final wheat purchase at 520,000 tonnes

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PARIS: Algeria's state buyer OAIC bought 520,000 tonnes of optional milling wheat in a tender last week, mainly for October shipment, more than initially reported by traders.

Traders narrowed the price paid by OAIC to around $198 a tonne, including cost and freight, from a range of $195-$199 reported last week.

The grains would mostly be sourced from northern Europe with origins including Germany, Poland and the Baltic States, they said. Around 200,000 tonnes of the total volume purchased was for shipment in September and the rest in October, traders said.

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

Copyright Reuters, 2016