South Korea buys 46,229 tonnes of rice

HAMBURG: South Korea’s state-backed Agro-Fisheries & Food Trade Corp purchased an estimated 46,229 tonnes of rice in an international tender for up to 208,217 tonnes which closed on March 25, European traders said on Friday. The purchase is expected to be sourced from Thailand, Vietnam and China. The tender sought rice in a series of consignments for arrival in South Korea between May 1 and Oct. 31.

The purchase of rice sourced from Thailand involved non-glutinous brown long grain number 3 grade, with an estimated 14,444 tonnes bought at $607.00 a tonne c&f from trading house Posco and 15,549 tonnes bought at $617.74 a tonne c&f from trading house DNB, traders said.

Another 11,236 tonnes of non-glutinous brown long grain number 3 grade rice sourced from Vietnam was bought at $584.00 a tonne c&f from Youngwoo International at $584.00 a tonne c&f.

Some 5,000 tonnes of Chinese glutinous milled short grain rice was also bought from Posco at $1,198 a tonne c&f.