March 15, 2006

South Korea's Kocopia buys up to 107,500 tonnes corn 

South Korea's Korea Corn Processing Industry Association (Kocopia) bought up to 107,500 tonnes of corn from trading house LDC in a tender concluded Tuesday (March 14), a trader in Seoul said.

LDC will supply 52,500 tonnes of China-origin corn at US$145/tonne, on a cost-and-freight basis, while it will supply 48,000-55,000 tonnes of US-origin corn at US$155/tonne, cost and freight.

LDC will inform Kocopia about the exact amount of US-origin corn it will supply, by next week.

One panamax-sized cargo will arrive at Inchon June 10 from either China or the US, while another panamax-sized cargo will arrive at either Ulsan or Kunsan June 25 from either China or the US.