HAMBURG: South Korea’s Feed Leaders Committee (FLC) purchased around 50,000 metric tons of animal feed corn in a private deal this week without issuing an international tender, European traders said on Friday.
The corn was believed to have been purchased at an estimated $260.90 a ton c&f with an additional $1.50 a tonne surcharge for additional port unloading.
Seller was believed to be trading house Mitsui.
It was expected to be sourced from South America, likely from Brazil, traders said.
South Korea’s NOFI tenders to buy 138,000 metric tons corn
Shipment was between Dec. 5, 2023, and Jan. 5, 2024, with arrival in South Korea around March 3, 2024.
The deal followed a purchase by South Korean importer NOFI of between 65,000 and 68,000 tons of animal feed corn in an international tender for up to 138,000 tons on Wednesday.
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