HAMBURG: South Korea’s state-backed Agro-Fisheries & Food Trade Corp. purchased an estimated 77,774 metric tons of rice to be sourced from the United States in an international tender for about 100,800 tons which closed on March 21, European traders said on Tuesday.
The purchase involved medium brown grade rice from the United States bought for arrival between July 2024 and January 2025, they said.
The corporation purchased two US consignments each of 22,222 tons at an estimated $854.44 and $854.67 a ton cost and freight (c&f) included, traders said. Six 5,555 ton US consignments were bought in a range between $799.50 and $828.50 a ton c&f.
No purchase was immediately reported of 22,222 tons of rice from China and 900 tons from Vietnam also sought in the tender, although it was thought possible that rice samples were still being tested for possible purchases.
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The corporation frequently seeks samples before committing to a final purchase.
Reports reflect assessments from traders and further estimates of prices and volumes are still possible later.
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