European traders reported on Thursday that Algeria's state grain agency OAIC purchased approximately 400,000 metric tonnes of durum wheat at an international auction which ended on Wednesday.

Algeria often purchases more than the nominal 50,000 tons sought in the tender.

Initial estimates for the purchase price ranged from around $324 per ton for larger Panamax shipments to around $334 for smaller Handymax shipments.

The majority of the durum purchased was Canadian, type 3 Canada Western Amber Durum (No.3 CWAD).

The bidder requested shipment over four periods, November 1-15, 16-30 November, 1-15 December and 16-31 December.

Algeria does not reveal the results of its bids, and those reported are based solely on traders' assessments. Later, more detailed estimates on prices and volumes are possible. Michael Hogan reports.

(source: Reuters)