HAMBURG: The Korea Feed Association (KFA) has issued an international tender to purchase up to 69,000 tonnes of corn, European traders said on Wednesday, continuing brisk Koran corn buying after prices fell.
The tender, which closes on Wednesday, April 3, seeks corn in one consignment of 55,000 to 69,000 tonnes for arrival in South Korea around Oct. 25.
Shipment is sought between Sept. 21 and Oct. 10 if sourced from the US Pacific Northwest Coast, between Sept. 1 and 20 if from the US Gulf or east Europe, between Aug. 27 and Sept. 15 if sourced from South America, or between Sept. 6 and 25 if from South Africa.
"Falling corn prices have generated a busy period for Korean corn imports in the past couple of weeks and a fair slice of their supply requirements have been covered," one trader said.
US corn futures tumbled more than 4 percent on Friday in the market's steepest drop in nearly three years, after the US Department of Agriculture estimated US stocks and spring plantings above trade estimates.
The past two weeks have seen a stream of corn purchases by South Korean, both in international tenders and private deals.
Other recent buyers include South Korea's largest feedmaker Nonghyup Feed Inc (NOFI), the Major Feedmill Group and the Feed Leaders Committee.
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