HAMBURG: South Korea's largest feedmaker Nonghyup Feed Inc. (NOFI) purchased about 67,000 tonnes of corn in an international tender which closed on Monday, European traders said.
It was purchased at $210.58 a tonne c&f plus a $1.00 a tonne surcharge for additional port unloading.
The seller has the option to select the origin of the corn which was sought for arrival in South Korea around Jan. 10, 2019.
Traders believed the seller was trading house Pan Ocean.
Shipment was sought between Dec. 8 and Dec. 27 if sourced from the US Pacific North West coast, between Nov. 18 and Dec. 7 if sourced from the US Gulf or east Europe, between Nov. 13 and Dec. 2 if from South America or between Nov. 18 and Dec. 7 if from South Africa.
South Korean importers bought around 2 million tonnes of corn in June and July, around 20 percent of annual requirements, after corn prices fell sharply.
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