April 17, 2006

South Korea's Kocopia buys 110,000 tonnes of corn in tender

The Korea Corn Processing Industry Association, or Kocopia, has bought a total of 110,000 tonnes of Chinese and US or South American-origin corn from trading house Glencore in a tender concluded on Friday, an association official said Monday (Apr 17).

Of the total, 55,000 tonnes of Chinese corn will be supplied at US$142.49/tonne, and 55,000 tonnes of US or South America-origin corn will be supplied at US$152.49/tonne.

The shipment from the US or South America is expected to reach South Korea between Jun 7-27, while the shipment from China will reach South Korea between Jul 12 and Aug 2.