November 7, 2005

Korea's Kocopia buys up to 110,000 tonnes of corn from Cargill

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 Friday, a South Korean trader said.

Kocopia bought two cargoes of non-GM corn at US$140.73/tonne of US or South American origin or US$134.73/tonne of Chinese origin, the trader said.

Both prices are after cost and freight.

One cargo is to be shipped to the port of Incheon Feb 20 and the other to Kunsan and Ulsan Feb 20.

Cargill can supply either 55,000-tonne cargoes of US or South American origin, or 52,500-tonne cargoes of Chinese origin, or a combination of both, the trader said.