November 17, 2011
Korea Feed Association purchases 55,000 tonnes wheat from GrainCorp
Korea Feed Association has bought a 55,000-tonne cargo of optional-origin feed wheat from Australia's GrainCorp Ltd at US$259.79 per tonne, basis cost and freight for arrival by March 5.
The price is 10 cents/tonne lower than what Major Feedmill Group and KFA's Busan branch paid for 110,000 tonnes of feed wheat purchased from STX Corp. and Hamburg-based Alfred C. Toepfer International.
Traders said it is one of the lowest prices South Korea has paid for feed wheat in more than a year.
South Korea's feed wheat imports costs have declined 5% since end-June, when purchases were made at US$273.90 per tonne.