March 17, 2004

South Korea's KFA Buy 40,000 Tons Australian Feed Wheat

The Korea Feed Association (KFA) bought 40,000 tonnes of Australian feed wheat at $189.90 per tonne C&F from Glencore via private negotiation on Tuesday, traders said on Wednesday.

Arrival was due on July 20 at the port of Inchon, they said. In 2002, South Korea imported 128,822 tonnes of Australian feed wheat, roughly eight percent of its total 1.6 million tonnes of feed wheat imports, official data showed.

No Australian feed wheat has been imported since the beginning of 2003.

"Due to poor harvests, Australian feed wheat had not been widely available but that seems to be changing now," a Seoul trader said.