March 26, 2004

South Korea To Buy 150,000 MT Non-GMO Soybean

South Korea's state-run company, the Agricultural and Fishery Marketing Corp., is seeking to buy 150,000 metric tons of non-genetically modified soybean in an April 7 tender, an official said Friday.
 
The company, which imports agricultural commodities for the government, said it will seek six 25,000-ton cargoes of soybean for 2005, he said.
 
The company has no other criteria for the soybean's origin, he said.
 
It is preparing to buy soybean for arrival up to Sept. 10, 2005, as "it's getting harder and harder to buy non-GM soybean," the official added.
 
"In the U.S., for example, the acreage planted to GM crops is increasing. We are not short of supply in South Korea, but since we like to have a stable and safe supply of non-GM soybean, we decided to hold a tender in April," he continued.
 
He added that results of the tender should be out on April 8.
 
Details of the tender are as follows:
 
Volume (Tons)                    Shipment Date                      Arrival Date
     25,000                 Dec. 19, 2004-Jan. 7, 2005            Feb. 10, 2005 
     25,000                 Jan. 21, 2005-Feb. 9, 2005            March 15, 2005 
     25,000                 Feb. 26, 2005-March 17,2005         April 20, 2005 
     25,000                 April 18, 2005-May 7, 2005            June 10, 2005 
     25,000                 June 13, 2005-July 2, 2005            Aug. 5, 2005 
     25,000                 July 19, 2005-Aug. 7, 2005            Sept. 10, 2005