South Korea’s Cargill Agri Purina tenders to buy about 140,000 metric tonnes of corn

HAMBURG: South Korean import consortium Cargill Agri Purina has issued an international tender to purchase around 140,000 metric tons of animal feed corn, European traders said on Tuesday.

The corn is sought sourced from South America or South Africa only in two consignments of 55,000 to 70,000 tons, both for arrival in South Korea in August.

The deadline for submission of price offers is also Tuesday, April 28. The first consignment for arrival in South Korea around August 15 was sought for shipment between June 12 and July 1 if sourced from South America or between June 27 and July 16 from South Africa.

The second consignment for arrival in South Korea around August 20 was sought for shipment between June 17 and July 6 if sourced from South America or between July 2 and July 21 from South Africa.

Price offers are sought both in outright terms per ton cost and freight included (c&f) or at a premium over the Chicago July 2026 corn contract.

Traders said it was possible only one consignment will be purchased, with sellers free to offer supplies in the range between 55,000 to 70,000 tons.

The tender continues a recent trend of brisk Asian corn demand, with traders saying some buyers believe the lack of a peace agreement in the Iran conflict could push prices higher.

Taiwan’s MFIG purchasing group has also issued an international tender to buy up to 65,000 tons of animal feed corn which can be sourced from the United States, Argentina, Brazil or South Africa, European traders said on Tuesday.