HAMBURG: Algeria’s state grains agency OAIC is believed to have purchased around 630,000 metric tons of milling wheat in an international tender which closed on Tuesday, European traders said on Thursday.
Traders had reported the purchase on Tuesday but had not given estimates of tonnes bought. Some trader estimates on Thursday put the purchase over 630,000 tons. Prices reported on Thursday were again around $257 to $258 a ton cost and freight (c&f) included, they said. This was the same as reported on Tuesday evening. Traders suspected some of the wheat would be sourced from the Black Sea region, including Romania and Ukraine, although technically the grain can be sourced from optional origins.
Trader reports said around eight companies made sales, including one French trading house. Diplomatic tension between France and Algeria has led apparent sidelining of French supplies in OAIC’s tenders since early October. Reports reflect assessments from traders and further estimates of prices and volumes are possible later.
Source: Brecorder
