October 13, 2004

South Korea Kocopia To Seek 55,000MT Corn In Tender Wed

The Seoul-based Korea Corn Processing Industry Association, or Kocopia, will seek up to 55,000 metric tons of optional-origin corn in a buy tender to be held at 0700 GMT Wednesday, said a Seoul-based trader who received the tender notice.

Kocopia will buy one cargo of corn - 52,500 tons in terms of Chinese corn or 55,000 tons in case of US or South American origin, the trader said.

The cargo is set to arrive in South Korea Feb. 25, 2005. Suppliers have the option to provide 5% more or less of the tendered quantity, the trader said.