Markets

South Korea's KFA buys about 120,000 T corn in tender

Published March 8, 2018 Updated March 8, 2018 12:49pm

It was bought in two 60,000 tonne consignments.

The first consignment was bought at $223.42 a tonne c&f for arrival in South Korea around June 25.

The seller was trading house ETG and there is an extra $1.25 a tonne surcharge for additional port unloading.

Shipment of the first consignment is between May 22 and June 10 from the US Pacific North West Coast, between May 2 and May 21 from the US Gulf, April 27 to May 16 from South America, May 7-26 from South Africa and May 2-21 from east Europe.

The second consignment, for arrival around July 25, was bought at $221.19 a tonne c&f from Pan Ocean. There is an extra $1 a tonne surcharge for additional port unloading.

The second consignment is for shipment between June 21 and July 10 from the US Pacific North West Coast, June 1-20 from the US Gulf, May 27 to June 15 from South America, June 6-25 from South Africa and June 1-20 from east Europe.

The tender continues heavy corn buying by South Korean importers this week after purchases totalling 407,000 tonnes by NOFI and MFG.

 

Copyright Reuters, 2018