March 7, 2005

South Korea Kocopia buys up to 55,000 tonnes of corn from Cargill

Seoul-based Korea Corn Processing Industry Association, or Kocopia, bought up to 55,000 tonnes of optional-origin corn from trading house Cargill in a tender concluded Friday, a Kocopia official said.

Kocopia bought one cargo of non-genetically modified corn for human consumption at either $149.41/tonne, for corn of US or South American origin, or $143.41/tonne for corn of Chinese origin, the official said.

Both prices are after cost and freight. The cargo is to arrive at the port of Incheon on June 10th. Cargill can supply either 52,500 tonnes of Chinese corn, or 55,000 tonnes of US or South American corn, the official said.