Algeria the world’s largest wheal importer
With 4bn tons delayed delivery contracts
Algeria the world’s largest wheal importer
El Khabar, 14 november 2007
Algeria is to become the world’s largest wheal importer while sealing contracts with different worldwide suppliers to buy 4 million tons with low prices. Algerian importers have snatched profitable deals as the 4 b tons are bought in low prices compared to the current ones.
In the margin of a conference organized yesterday in Algiers by the French Unigrains Association, Mr. Yann Le Beau, Unigrains- Africa and Maghreb representative indicated that Algerian importers “have sealed since last June delayed delivery contracts to buy 3.3 soft wheal as well as 800 thousands tons of hard wheat, while the market still needs 600 thousands of hard wheal to cover local demands for 2007/2008 season.”
The French expert further mentioned that the contracts sealed by importers including Algerian Inter-professional Grain Office are profitable as wheal quantities were bought while ton of tender wheal was as low as 300 USD and less than 450 USD a ton for hard wheal; compared to the significant prices surge in international markets as tender wheal is sold currently for 450 USD a ton while a ton of hard wheal is sold for 700 USD.
14-11-2007
By S.B.A/ Translated by A.A
