March 29, 2006

South Korea's MFG, KFA cancel tender for 55,000 tonnes corn

South Korea's Major Feedmill Group (MFG) and Korea Feed Association (KFA) have decided not to award their joint tender for 55,000 tonnes of US corn to any trading house, as bids were too expensive, a trader in Seoul said Tuesday (Mar 28).

KFA and MFG have not decided if they will call for a new tender, the trader added.

The cancelled tender was expected to have been concluded on Tuesday, with delivery scheduled to arrive at Ulsan and Kunsan ports on July 13.