HAMBURG: South Korea’s Major Feedmill Group (MFG) purchased about 125,000 metric tons of animal feed wheat in private deals on Friday without issuing an international tender, European traders said on Monday.
One 65,000-ton consignment expected to be sourced from the United States was purchased at an estimated $242.95 a ton c&f plus a $1.25 a ton surcharge for additional port unloading.
It was believed to have been bought from trading house Pan Ocean.
The wheat is believed to be for shipment from the US Pacific Northwest coast between July 2 and 26 for arrival in South Korea around Aug. 10.
A second 60,000-ton optional-origin consignment was purchased at an estimated $242.60 a ton c&f plus a $1.50 a ton surcharge for additional port unloading.
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It was believed to have been bought from trading house ADM. If sourced from the US Gulf, the Black Sea region or the European Union, shipment is between June 15 and July 15.
If sourced from the US Pacific Northwest coast, Australia or Canada, shipment is between July 5 and Aug. 5.
Arrival of the second consignment in South Korea will be around Aug. 20.
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