HAMBURG: South Korea’s Korea Feed Association (KFA) has issued an international tender to purchase up to 69,000 metric tons of animal feed corn to be sourced from South America or South Africa only, European traders said on Thursday.
The deadline for submission of price offers in the tender from the KFA’s Busan section is also Thursday, April 18.
The corn was sought by the KFA’s Busan section for arrival in South Korea in one consignment around July 30.
Shipment is sought between May 27-June 15 if sourced from South America or between June 11-June 30 if from South Africa.
Offers were sought both in outright prices per ton cost and freight (c&f) included and at a premium over the Chicago July 2024 corn contract, traders said.
South Korea’s FLC bought some 65,000 T corn in private deal
The tender continued brisk corn purchasing by South Korean corn importers in the past week ahead of possible price turbulence with concern fears the market likely to react sharply to any forecasts of unfavourable US crop weather in coming weeks.
The KFA’s Incheon section also bought 70,000 tons of corn on Wednesday.
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