Algeria's state grains company OAIC has begun purchasing milling wheat in an international tender which closed on Wednesday, European traders stated.

An initial purchase was reported at around $241 a metric ton expense and freight (c&& f) consisted of, they stated. Other initial price quotes of the cost variety were higher at around $243 a ton c&& f.

The tonnage purchased was initially uncertain with negotiations continuing. Reports reflect assessments from traders and even more estimates of prices and volumes are still possible later.

The wheat was sought for shipment in 2024 in 2 durations from the main supply regions including Europe: Sept. 1-15 and Sept. 16-30. If sourced from South America or Australia, delivery is one month earlier.

Algeria is an essential client for wheat from the European Union, particularly France, however Russian exporters have been expanding highly in the Algerian market.