January 11, 2007

South Korea's Kocopia buys 110,000 tonnes optional-origin corn

The Korea Corn Processing Industry Association has bought 110,000 tonnes of optional-origin corn from trading house Louis Dreyfus in a tender concluded on Wednesday (Jan 10), an association official said.

If the corn is of US or South American origin, it will be supplied at US$225/tonne, while corn of Chinese origin will be supplied at US$215/tonne.

The first shipment of 55,000 tonnes, irrespective of origin, is expected to reach Inchon on Jun 10, while the second shipment may reach Kunsan or Ulsan on Jul 5.