HAMBURG: The Korea Feed Association (KFA) Busan section in South Korea purchased an estimated 70,000 metric tons of animal feed corn expected to be sourced from South America or South Africa in a private deal on Thursday without issuing an international tender, European traders said on Friday.

The corn was believed to have been purchased from trading house Cargill at an estimated $249.99 a ton cost and freight (c&f) including a surcharge for additional port unloading for arrival in South Korea around Feb. 5, 2025.

If sourced from South America, shipment was between Nov. 27 and Dec. 27.

South Korea’s NOFI buys additional 65,000 T corn, traders say

If sourced from South America, only 50,000 tons need be supplied.

Reports reflect assessments from traders and further estimates of prices and volumes are still possible later.