Algeria buys milling wheat in tender, traders say

HAMBURG/PARIS, Oct 8 (Reuters) – Algeria’s state grains agency OAIC has started buying milling wheat in an international tender which closed on Tuesday, European traders said.

Initial purchases were reported at around $262.50 a metric ton cost and freight (c&f) included, they said. Some put the lowest price at $262 a ton c&f.

The tonnage bought was initially unclear.

Reports reflect assessments from traders and further estimates of prices and volumes are still possible later.

The wheat is sought for shipment in 2024 in two periods from the main supply regions including Europe: Nov. 1-15 and Nov. 16-30. If sourced from South America or Australia, shipment is one month earlier.

Algeria is a vital customer for wheat from the European Union, especially France, but Russian and other Black Sea region exporters have been expanding strongly in the Algerian market. (Reporting by Michael Hogan in Hamburg and Gus Trompiz in Paris )

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