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South Korean's KFA passes in 65,000 tonne corn tender

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By Fawad MaqsoodReuters

HAMBURG: The Korea Feed Association (KFA) rejected all offers and made no purchase in a tender to buy up to 65,000 tonnes of corn which closed on Friday, European traders said.

Prices were regarded as too high, they said.

Lowest offer in final negotiations was $209.99 a tonne c&f plus a $1.25 a tonne surcharge for additional port unloading for US-origin corn.

Traders had reported the lowest initial offer at $210.48 a tonne c&f.

The tender from the KFA's Busan section sought corn in one consignment for arrival around May 30.

Copyright Reuters, 2019

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