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South Korea's NOFI buys about 200,000 tonnes corn

  • The corn was bought in three consignments for 2021 arrival, with all prices having an additional $1.25 a tonne surcharge for port unloading, they said.
20 Nov 2020

HAMBURG: South Korea's largest animal feed maker Nonghyup Feed Inc. (NOFI) purchased around 200,000 tonnes of corn in an international tender that closed on Friday, European traders said.

The corn was bought in three consignments for 2021 arrival, with all prices having an additional $1.25 a tonne surcharge for port unloading, they said.

The first consignment of 66,000 tonnes for arrival around April 30 was bought at an estimated $243.20 a tonne c&f from trading house Pan Ocean, traders said.

If sourced from the U.S. Pacific Northwest coast, shipment of the first consignment is sought between March 28 and April 16, if from the U.S. Gulf or east Europe between March 8 and March 27, if from South America between March 3 and March 22 or from South Africa between March 13 and March 22.

The second consignment of 68,000 tonnes for arrival around May 15 was bought at $241.99 a tonne c&f, with Bunge believed to be the seller.

If sourced from the U.S. Pacific Northwest coast, shipment of the second consignment is sought between April 12 and May 1, if from the U.S. Gulf or east Europe between March 23 and April 11, if from South America between March 18 and April 6 or from South Africa between March 28 and April 16.

The third consignment of 66,000 tonnes for arrival around May 25 was also bought at $241.99 a tonne c&f from trading house ADM.

If from the U.S. Pacific Northwest coast, shipment of the third consignment is sought between April 22 and May 11, if from the U.S. Gulf or east Europe between April 2 and April 21, if from South America between March 28 and April 16 or from South Africa between April 7 and April 26.

Korean importer FLC also bought corn on Friday.