March 17, 2006

South Korea's Kocopia buys 105,000 tonnes corn

The Korea Corn Processing Industry Association (Kocopia) has bought a total of 105,000 tonnes of China and US-origin corn from trading house ADM in a tender concluded on Thursday (March 16), a trader in Seoul said.

While 52,500 tonnes of Chinese corn will be supplied at US$141.57/tonne, cost and freight, 52,500 tonnes of US corn will be supplied at US$151.57/tonne, cost and freight.

One panamax-sized cargo will arrive at Inchon on June 30, from either the US or China, while another panamax-sized cargo will arrive at Ulsan or Kunsan on July 10, from either the US or China.