December 1, 2006

South Korea's NOFI buys 47,000 tonnes of corn in tender

South Korea's Nonghyup Feed Inc has bought 47,000 tonnes of US or South American corn from trading house Archer Daniels Midland in a tender concluded Thursday (Nov 30), a company official said.

The corn will be supplied at US$218.34/tonne for either origin, and the shipment is to reach South Korea Jan 10.

If there is a second port discharge, NOFI will have to pay a premium of US$1.50/tonne.