March 5, 2012

South Korea buys 24,000-tonne Indian rapeseed meal

South Korea's largest feed miller, Nonghyup Feed Inc (Nofi) on Friday (March 2) purchased two cargoes of 24,000 tonnes of Indian rapeseed meal at US$214.75/tonne, basis cost and freight, trading executives said.

Nofi bought the cargoes for arrival by July 1 and August 1 and there is an additional charge of US$1.75/tonne each if part of the consignment is unloaded at a second and third port.

South Korea, one of the world's biggest importers of feed grains, has purchased at least 2.35 million tonnes since January 6, including 1.1 million tonnes of corn and 940,000 tonnes of wheat.