South Korea's largest feedmaker Nonghyup Feed Inc (NOFI) has issued an international tender to purchase about 65,000 tonnes of feed wheat to be sourced from optional origins, European traders said on Friday. The tender deadline is also Friday May 10, with arrival sought in South Korea around November 21. NOFI seeks feed wheat from optional origins in one consignment.
Shipment is sought between Oct. 18 and Nov. 6 if sourced from the US Pacific Northwest coast, Australia or Canada; between Sept. 28 and Oct. 17 if sourced from the US Gulf or eastern Europe; or between Sept. 23 and Oct. 12 if from South America. "We are seeing some very low feed wheat prices being offered in Asia this week as shown by the low prices paid in the Philippines wheat tender on Thursday," one European trader said.
"I think this is partly due to growing belief that Russia, Ukraine and the rest of the Black Sea region could have a large harvest this summer because of excellent weather this spring."
An importer in the Philippines bought about 110,000 tonnes of feed wheat for July/August shipment at just below $200 a tonne c&f, traders said on Thursday. The likely origin was the Black Sea region. The price was regarded as very low and followed a purchase by the Philippines last week at more than $200 a tonne c&f.