August 9, 2006

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

The Korea Corn Processing Industry Association (Kocopia) has bought 110,000 tonnes of optional-origin corn from trading house Cargill, in a tender concluded on Tuesday (Aug 8), an association official said.

Cargill will supply US or South America-origin corn at US$171.47/tonne, while it will supply China-origin corn at US$165.47/tonne.

While the first shipment of 55,000 tonnes will reach Inchon on Nov 13, the other shipment will reach either Ulsan or Kunsan on Dec 25.