December 28, 2015
195,000 tonnes of Americas' corn acquired by South Korea's NOFI
About 195,000 tonnes of US / South American corn- together with 69,000 tonnes of global wheat - had been bought by Nonghyup Feed Inc (NOFI), South Korea's biggest animal feed producer, Reuters reported.
The acquisitions were conducted through tenders closed on December 23, said South Korean traders. The arrival of products are expected between May and July next year, and will reach the ports of Incheon, Pyeong Taek, Gunsan, Mokpo, Busan and Ulsan.
The first delivery consists of about 65,000 tonnes of corn bought at US$181.25 per tonne on a cost-and-freight (C&F) basis from Pan Ocean. The consignment is tagged with a US$1 per tonne surcharge for additional port unloading.
About 65,000 tonnes of corn make up the second consignment and at a cost of US$181.37 per tonne on a C&F basis from Glencore International AG, coupled with a US$1.50 per tonne surcharge for additional port unloading.
The final corn consignment, at about 65,000 tonnes, was acquired from Glencore at a basis price of US$82.25 per tonne with a US$1.50 per tonne surcharge for additional port unloading.
For wheat, a consignment of 69,000 tonnes was bought at US$184.75 per tonne on a C&F basis from Archer Daniels Midland Co (ADM), with a US$1.25 per tonne surcharge for additional port unloading.