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Algerian wheat purchase about 480,000 T to 510,000 T -traders.
Oct 13, 2022

Raises top end of purchase forecast to 510,000 tonnes, adds comment on prices

HAMBURG/PARIS, Oct 12 (Reuters) - Algeria's state grains agency OAIC is believed to have bought about 480,000 tonnes to 510,000 tonnes of milling wheat in an international tender which closed on Tuesday, European traders said on Wednesday.

This was above the upper end of estimates of 400,000 to 480,000 tonnes from traders on Tuesday evening.

The purchase was expected to be largely sourced from Russia and possibly some from Romania and Bulgaria, although technically supplies are optional origin, they said. It is thought one seller will provide about 60,000 tonnes sourced from France.

Estimates of the purchase prices on Wednesday were around $380 a tonne cost and freight (c&f) included for the lowest end of the range and up to $384 a tonne c&f at the high end, although some individual traders put the highest price at $385 a tonne c&f. This was similar to estimates on Tuesday evening.

Traders said they believed the bulk of the wheat was traded at between $382 and $384 a tonne c&f.

More detailed assessments of prices and tonnage bought are still possible later.

Algeria is usually the largest export market for European Union wheat, with France the main EU supplier. Algeria does not release results of its tenders and reports are based on trade estimates.

A large purchase had been expected at Algeria bought only a relatively modest volume in its previous tender in September which was made at considerably lower prices of down to $369 a tonne c&f.

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