South Korean buyers purchased up to 130,000 tons feed wheat last week, traders say
- The MFG’s purchase was made at an estimated $289.75 a tonne c&f plus a $1.50 a ton surcharge for additional port unloading
HAMBURG: South Korea’s Feed Leaders Committee (FLC) and Major Feedmill Group (MFG) bought up to 130,000 metric tons of animal feed wheat in private deals last week without issuing an international tender, European traders said on Monday.
Both purchased a consignment of between 55,000 to 65,000 tons with the volume to be declared by June 15. Seller of all the wheat was said to be trading house Cofco, with wheat arrival in South Korea in September.
The MFG’s purchase was made at an estimated $289.75 a tonne c&f plus a $1.50 a ton surcharge for additional port unloading.
The FLC’s purchase was made at an estimated $290.99 a tonne c&f plus a $1.75 a ton surcharge for additional port unloading.
Reports reflect assessments from traders and further estimates of prices and volumes are still possible later.