South Korea's KFA buys about 60,000 tonnes corn in private deal

HAMBURG: The Korea Feed Association (KFA) purchased about 60,000 tonnes of corn in a private deal on Thursday without issuing an international tender, European traders said.

The KFA's Busan section made the purchase at $208.20 a tonne c&f plus a $1.00 a tonne surcharge for additional port unloading.

It can be sourced optionally from worldwide origins and is for arrival in South Korea around May 10, they said. Seller was believed to be trading house Posco Daewoo.

The deal was separate from the 65,000 tonnes of corn bought by the KFA's Incheon section on Wednesday, a day when several other Korean importers also made corn purchases.