March 10, 2005

 

South Korea buys up to 110,000 tonnes corn from Toepfer

 

 

The Seoul-based Korea Corn Processing Industry Association, or Kocopia, bought up to 110,000 tonnes of non-genetically modified corn from trading house Toepfer in a tender concluded Wednesday, said a Seoul-based trader.

 

Toepfer can choose to provide non-GMO corn from the US, South America or China.

 

Kocopia bought two cargoes of corn: 55,000 tonnes per cargo for corn of US or South American origin, or 52,500 tonnes per cargo for Chinese corn, the trader said.

 

All prices are after cost and freight.

 

Below are details of the buy tender:

 

Quantity    Origin               Shipment             Prices

(tonnes)

                                                               ($/tonne)

Cargo 1

55,000     US Gulf              May 5-25            149.16

           Pacific Northwest    May 20-June 10   149.16

           South America       April 25-May 15   149.16

52,500     China                June 5-25            144.16

 

Cargo 2

55,000     US Gulf            May 20-June 10     150.16

           Pacific Northwest   June 5-25             150.16

           South America       May 10-30           150.16

52,500     China               June 20-July 10     145.16