South Korea’s NOFI buys 68,000 T corn

HAMBURG: South Korea’s largest animal feed maker Nonghyup Feed Inc. (NOFI) purchased about 68,000 tonnes of animal feed corn in an international tender which closed on Tuesday but made no purchase of 65,000 tonnes of feed wheat also sought, European traders said.

The corn was bought at an estimated $318.90 a tonne c&f with an additional $1.50 a tonne surcharge for additional port unloading for arrival in South Korea around Feb. 15, 2022.

Seller was said to be trading house Olam and the corn was expected to be sourced from either South America or South Africa.

The feed wheat was sought for January 2022 arrival in South Korea and prices offered ranged between $395 to $399 a tonne c&f, traders said.