February 9, 2023

South Korea's Major Feedmill Group buys 138,000 tonnes of animal feed corn

European traders said South Korea's Major Feedmill Group has purchased about 138,000 tonnes of animal feed corn sourced from South America and optional origins in an international tender on February 7, Business Recorder reported.

MFG's first consignment of around 70,000 tonnes was purchased at an estimated US$339.50 per tonne c&f plus a US$1.20 per tonne surcharge for additional port unloading. The seller was believed to be trading house Sierentz.

A second consignment of approximately 68,000 tonnes was purchased at an estimated US$339.83 per tonne c&f, including a surcharge for additional port unloading. The seller was believed to be trading house Cofco.

MFG's tender requested that the first consignment arrive in South Korea around May 7. But traders said that an earlier arrival around April 25 had been agreed in talks, with shipment from South America between February 25 and March 15. The second shipment was expected to arrive in South Korea around May 20.

-      Business Recorder