HAMBURG: South Korea's Feed Leaders Committee (FLC) purchased about 65,000 tonnes of corn in a private deal on Friday without an international tender being issued, European traders said on Monday.
The corn is expected to be sourced from South America.
It was purchased at an estimated $305.99 a tonne c&f plus a $1.50 a tonne surcharge for additional port unloading for arrival in South Korea around Aug. 25.
The seller was believed to be trading house Al Ghurair.
South Korean importers Nonghyup Feed Inc. (NOFI) and the Korea Feed Association (KFA) both bought corn in international tenders on Friday as Asian importers took supply cover after Chicago corn touched eight-year highs.
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