May 27, 2011
Taiwan MIPA turns down corn import tender
Taiwan's Maize Industry Procurement Association (MIPA) Thursday (May 26) passed on a tender to import 43,000 tonnes of corn, citing high prices, trading executives said.
They said commodities trading company Noble Resources made the lowest price offer in the tender, for South American corn at 212.37 cents/bushel over September futures contract on the Chicago Board of Trade, basis cost and freight.
MIPA was seeking corn for shipment during July 1-15 and traders said it is likely to re-issue the tender next week, but the volume to be sought is not finalised.
