May 28, 2012

Proconco purchases 40,000 tonnes Indian corn

Three cargoes totalling 40,000 tonnes of Indian corn for shipment in July and August have been purchased by Vietnam's Proconco, trading executives said Friday (May 25).

It purchased a cargo of 10,000 tonnes around US$258/tonne, cost and freight, for July 15-August 15 shipment to Hai Phong port from Emmsons International, they said.

It also bought two cargoes of 15,000 tonnes, each around US$253/tonne, C&F, for July and July 15-August 15 shipment to Ho Chi Minh City from Marubeni and Crossland, they added.

India's corn is among the world's cheapest. It is filling the near-term needs of East Asian buyers at a time of tight global supply, which will improve only after the next US harvest from September.