June 2, 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 optional-origin corn from trading house Cargill in a tender concluded on Thursday (Jun 1), an association official said.

If the corn is US origin, Cargill will supply it at US$161.32/tonne while the price will be US$151.32/tonne for China-origin corn.

The first shipment of 55,000 tonnes will arrive in Inchon on Sep 10 while another 55,000 tonnes may arrive in Ulsan or Kunsan on Oct 10.