Global Soft Wheat Prices Rise Following Algerian Tender

European soft wheat futures in Paris have experienced an increase, following a tender issued by Algeria for the purchase of wheat. This Algerian tender has pushed up global soft wheat prices, reflecting the nation's notable influence on the international cereal market.

The Office Algérien des Céréales (OAIC) recently launched a tender to acquire 50,000 tonnes of soft wheat. This latest procurement initiative led to a market recovery, with European wheat prices rising by 0.5% to $271.37 per tonne. The OAIC, known for often purchasing larger quantities than initially specified in its tenders, had also placed an order for 500,000 tonnes of wheat a month prior, priced between $319 and $321 per tonne.

Algeria's actions underscore its substantial role as a key player in the global wheat market. The country is projected to import 8.5 million tonnes of wheat during the 2026-2027 campaign, positioning it among the top three global wheat importers. Notably, with a population of 48 million inhabitants, Algeria surpasses other major importers like Egypt and Indonesia in terms of imports proportional to its population, further highlighting its significant demand and market impact.