May 4, 2011

Taiwan's Maize Industry Procurement Association (MIPA) will not likely re-issue a tender to import 29,800 tonnes of corn for June 1-15 shipment, trading executives said Tuesday (May 3).

MIPA passed on the tender last week, citing high prices.

Instead, members of the association are likely to make smaller purchases individually for shipment in containers, said a trader familiar with MIPA's plans.

Another trader said MIPA may issue its next tender this month, seeking bulk corn for shipment in July.

In the latest tender, the lowest offer was around 204.5 cents over the July contract at the Chicago Board of Trade. CBOT July corn futures are trading around US$7.30 a bushel.

On flat-price basis, the lowest offer was US$369/tonne, C&F.