San Miguel buys 60,000 tonnes of US corn for March

San Miguel Corp has signed a contract to buy around 60,000 tonnes of corn from the US for March arrival, a person familiar with the deal said Wednesday (February 18).

"The imports were contracted only recently," said the person, who declined to disclose the contract price.

Asia's largest food and beverage conglomerate, San Miguel has a feed and poultry division.

In December, San Miguel led the purchase of around 100,000 tonnes of corn from Brazil.

Tuesday, an industry executive said a group of feed millers and hog and poultry raisers bought around 25,000 tonnes of corn from Thailand for arrival between March 10 and March 15.

Corn is a major component in livestock and poultry feeds.