September 15, 2006

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

Seoul-based Korea Corn Processing Industry Association, or Kocopia, bought up to 110,000 tonnes of optional-origin corn from trading house Cargill in a tender concluded Thursday (Sep 14), an association official said.

Kocopia bought two cargoes of non-genetically modified corn at US$173.82 a tonne of US or South American origin or US$167.82/tonne of Chinese origin, the trader said.

Cargill can supply either 55,000-tonne cargoes of US or South American origin or 52,500-tonne cargoes of Chinese origin, he said.

All prices are after cost and freight.

The first cargo is to be shipped to the port of Incheon Dec 15 and the other to Kunsan and Ulsan Jan 20.