Algeria's last wheat purchase came to about 700,000 tonnes

A scarecrow is seen at a wheat field in Tipaza, west of Algiers, Algeria June 3, 2015. Besides falling energy revenues. (File Photo: Reuters)

Algeria's state grains agency OAIC bought between 700,000 and 725,000 tonnes of optional-origin milling wheat in a tender last week, more than initially reported, European traders said on Tuesday.

OAIC, one of the world's largest wheat buyers, does not publish details of its import tenders and results reported by traders are estimates.

Traders had initially cited a volume of at least 400,000 tonnes, with some pointing to 500,000 tonnes or above.
As reported last week, OAIC paid around $238 a tonne, including cost and freight, for the wheat, traders said.

Some traders said the entire volume was for shipment in September, the period specified in the tender, but others said the size of the purchase suggested some of the wheat would be shipped in October.

France, Algeria's main wheat supplier, was seen as the most likely origin although some traders also said German wheat could be chosen as well.

Algeria is holding a separate tender this week to buy livestock feed barley and is expected to come into the market soon to purchase durum wheat, as the country steps up purchases due to a disappointing local harvest and concerns that international prices are set to rise, traders said.

Last Update: Wednesday, 20 May 2020 KSA 13:56 - GMT 10:56