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Algeria tenders to purchase small 50,000 T soft milling wheat

Algeria's state grains agency OAIC has actually issued an international tender to buy soft milling wheat to be sourced from optional origins, European traders said on Tuesday.

The tender looked for a small 50,000 metric loads but Algeria often buys substantially more in its tenders than the nominal volume looked for.

The due date for submission of rate deals in the tender is Thursday, Oct. 31, with deals having to remain legitimate until Friday, Nov. 1.

The wheat is sought for delivery in 2024 in 2 periods from the primary supply areas consisting of Europe: Dec. 1-15 and Dec. 16-31. If sourced from South America or Australia, shipment is one month earlier.

Algeria is a vital client for wheat from the European Union, especially France, however Russian and other Black Sea area exporters have been broadening strongly in the Algerian market.

Algeria omitted French trading companies from its previous wheat import tender in October and required that getting involved firms did not offer French-origin wheat, in an evident fallout from restored diplomatic stress between Algiers and Paris, trading sources said.

Traders said the tender might likewise supply a clearer view of the effect of Russia's informal minimum wheat export rate, enforced to cool Russian flour and bread costs.

(source: Reuters)