February 24, 2023

South Korea's NOFI to purchase 138,000 tonnes of livestock feed corn

European traders said major South Korean feed producer Nonghyup Feed (NOFI) has issued an international tender to buy up to 138,000 tonnes of livestock feed corn, to be sourced from optional origins, Hellenic Shipping News reported.

The corn is expected to arrive in South Korea in two shipments totaling between 45,000 and 69,000 tonnes.

Offers are sought as a flat/outright price as well as at a premium over the Chicago July 2023 corn contract CN3.

The origin of the corn is optional, with the exclusion of Russia, not using Ukrainian loading ports, and excluding supplies from Paraguay.

The first shipment of corn is anticipated to arrive in South Korea around June 5.

Shipment of the first consignment is between May 2 and May 21 if sourced from the US Pacific Northwest coast, between April 12 and May 1 if it comes from the US Gulf/Europe, between April 7 and April 26 if it is shipped from South America, and between April 17 and May 6 from South Africa.

The second corn consignment is expected to arrive in South Korea on around June 15.

Shipment is expected between May 12 and May 31 if sourced from the US Pacific Northwest coast, between April 22 and May 11 if it is shipped from the US Gulf/Europe, between April 17 and May 6 if it is sourced from South America, and between April 27 and May 16 from South Africa.

-      Hellenic Shipping News