South Korea's NOFI buys about 69,000 tonnes corn in tender
- The corn purchased was expected to be sourced from the U.S. Pacific Northwest coast, traders said.
HAMBURG: South Korea's largest animal feed maker Nonghyup Feed Inc. (NOFI) purchased around 69,000 tonnes of animal feed corn in an international tender which closed on Monday, European traders said.
It was bought in one consignment at an estimated $236.73 a tonne c&f and with an additional $1.25 a tonne surcharge for additional port unloading. Seller was said to be trading house Cargill.
The corn purchased was expected to be sourced from the U.S. Pacific Northwest coast, traders said.
The corn was sought for arrival in South Korea around June 5, 2021.
NOFI sought yellow corn equivalent to U.S. number 3 grade or better in one consignment of between 45,000 to 69,000 tonnes with the seller free to decide the volume to be offered inside this range.
If sourced from the U.S. Pacific Northwest coast, shipment is sought between May 3 and May 22, if from the U.S. Gulf or east Europe between April 13 and May 2, or from South America between April 8 and April 27.
In its last reported corn tender on Nov. 20, NOFI purchased around 200,000 tonnes.
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