Algeria has increased its purchases of wheat in recent days. In two weeks, the Algerian Interprofessional Cereals Office (OAIC) bought more than one (1) million tonnes of wheat, mostly from France, for a price of between $ 312 and $ 314 per ton.
This is what the specialist site Terre-net reported on Friday, citing grain market expert Marius Garrigue. “In two weeks, the OAIC thus contracted a little over a million tonnes! “, Said the expert.
And to specify that “the major part of the volumes would be of European origin, French in particular”.
Loadings in ports in France have also increased in recent days and nearly 90 kt of wheat have left for Algeria, added the same source.
According to World Grain, the United States Department of Agriculture (USDA) forecasts that Algeria’s wheat consumption will be between 10.7 and 11 million tonnes during the 2020/2021 season, while local wheat production will decline by 5.1% to 3.75 million tonnes during the period.
Wheat production in MY 2019-20 is estimated at 3.95 million tonnes, according to a July 2020 USDA analysis.
According to USDA forecasts, Algeria, which is only able to meet between 34% and 36% of its wheat needs, should import between 5 and 8 million tonnes in 2020/2021 .
