November 21, 2005

South Korea's NOFI buys 142,000 tonnes feed corn from China
 

South Korea's Nonghyup Feed Inc. bought 142,000 tonnes of feed corn from China in a buy tender late Friday, a Seoul-based trader said Monday.

The tender comprised two panamax-size cargoes of 52,500 tonnes each, one handy-size cargo of 25,000 tonnes and one handy-size cargo of 12,000 tonnes.

NOFI would pay US$127.73/tonne, including cost and freight, for the panamax cargo, US$130.45/tonne, cost and freight, for the 25,000-tonne cargo and US$133.25/tonne, cost and freight, for the 12,000-tonne cargo.

The Panamax-sized cargoes would be delivered to any two of the ports of Incheon, Ulsan or Pusan. The 25,000-tonne cargo would be delivered to Pusan, while the 12,000-tonne cargo would be delivered to Mokpo.

All deliveries are scheduled to take place at the end of February.