HAMBURG: Leading South Korean feedmaker Nonghyup Feed Inc. (NOFI) has issued an international tender to purchase up to 138,000 tonnes of animal feed corn to be sourced from optional origins, European traders said on Thursday.
The deadline for submission of price offers in the tender is also Thursday, Dec. 8.
Arrival of the corn in South Korea is sought in two consignments of up to 69,000 tonnes. Offers are sought both as a flat/outright price and at a premium over the Chicago March 2023 corn contract.
Corn from east Europe/the Black Sea region and Paraguay is excluded from the tender.
The first corn consignment is sought for arrival in South Korea around April 5, 2023.
If sourced from the US Pacific Northwest coast, shipment of the first consignment is for March 2-March 21, if from the US Gulf or Europe for Feb. 10-March 1, from South America for Feb. 5-Feb. 24 or from South Africa between Feb. 15 and March 6.
South Korea’s NOFI tenders to buy 138,000 tonnes corn
The second corn consignment is sought for arrival in South Korea around April 15, 2023.
If sourced from the US Pacific Northwest coast, shipment is for March 12-31, from the US Gulf or Europe for Feb. 20-March 11, from South America for Feb. 15-March 6 or from South Africa between Feb. 25 and March 16.
Asian corn buying has been brisk in the past week following recent weakness in Chicago corn futures, with purchasing by South Korea and Taiwan reported.
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