HAMBURG/PARIS - Algeria’s state grains agency OAIC has purchased optional-origin milling wheat in an international tender which closed on Wednesday, European traders said in initial assessments.
Estimates of the purchase price were around $312 and $314 a tonne c&f, traders said. Other estimates were between $313.50 to $314 a tonne c&f. More detailed assessments of prices are expected later.
Estimates of volumes bought ranged between 330,000 tonnes to 390,000 tonnes with more details also expected later.
The wheat was sought for shipment from the main supply countries between Feb. 14 to Feb. 28. If sourced from South America or Australia, shipment is between Feb. 1 and Feb. 15, they said.
Algeria does not release the results of its tenders and reports are based on trade estimates. In its last tender reported on Dec. 31, Algeria purchased about 300,000 tonnes of milling wheat at around $292 a tonne c&f but prices have since risen sharply after Russia announced plans for taxes to reduce its wheat exports.
(Reporting by Michael Hogan and Gus Trompiz, editing by Kirsten Donovan) ((firstname.lastname@example.org; +49 172 671 36 54; Reuters Messaging: email@example.com))