May 24, 2007

South Korea's Kocopia buys 110,000 tonnes optional-origin corn

The Korea Corn Processing Association (Kocopia) bought 110,000 tonnes of optional-origin corn from trading house Bunge at a tender concluded Wednesday (May 23), an association official said.

If the corn is of Chinese origin it will be supplied at US$229.74/tonnene, while US or South American corn will be supplied at US$239.74/tonne.

The first shipment of 55,000 tonnes is scheduled to reach Inchon port Sep 10, irrespective of origin, while the second shipment should reach either Kulsan or Ulsan Sep 20.