August 19, 2004

South Korea's Kocopia Buys 52,500-55,000 MT Corn From Glencore

The Korea Corn Processing Industry Association, or Kocopia, bought 52,500-55,000 metric tons of optional-origin corn from trading house Glencore in a tender concluded Wednesday, said a Kocopia official.
 
Kocopia bought one cargo of corn and will pay $159.67/ton, cost and freight basis, for 55,000 tons of corn of U.S. or South American origin, the official said.
 
If Glencore supplies Chinese corn, Kocopia will buy 52,500 tons and pay $5/ton less, the official added.
 
The cargo is to arrive at Incheon port Jan. 10, 2005.