HAMBURG: South Korea’s Korea Feed Association (KFA) has issued an international tender to purchase up to 138,000 metric tons of animal feed corn to be sourced from South America or South Africa only, European traders said on Tuesday.
The deadline for submission of price offers in the tender from the KFA’s Busan section is also Tuesday, May 28.
Traders said rising wheat prices due to concerns of weather damage in top exporter Russia have generated demand for cheaper corn with South Korean importers NOFI and FLC also making large purchases on Friday.
The corn was sought by the KFA for arrival in South Korea in two consignments of between 50,000 to 69,000 tons.
The first consignment was sought for arrival around Sept. 5 with shipment between July 3 and July 22 if sourced from South America or between July 18 and Aug. 6 if from South Africa.
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The second consignment was sought for arrival around Sept. 30 with shipment between July 28 and Aug. 16 if sourced from South America or between Aug. 12-Aug. 31 if from South Africa.
Offers were sought both in outright prices per ton cost and freight (c&f) included and at a premium over the Chicago July 2024 corn contract, traders said.
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