Algeria's state-owned grain purchaser OAIC has bought around 540,000 tonnes of ground wheat as part of an international tender process, according to European traders.
Some traders believe that an even larger amount of wheat has been bought, further details are expected later in the day. According to initial assumptions, a price between $ 237.50 and $ 237.75 per ton of c & f was paid.
Algeria itself does not publish details of its tenders.
Wheat was searched for the delivery period April 1 - 15 and April 16 - 30. Should wheat from South America win the contract, the delivery period would be March 1 - 15 and March 16 - 31.
The last time Algeria bought around 400,000 tons of ground wheat on January 22nd was the price of over $ 245.00 / ton c & f.
Source
HANSA Terminhandel
