September 4, 2003

 

 

South Korea Assoc Buys 105,000 Tons of Corn from Dalian Huaxing, China

 

The Korea Corn Processing Industry Association has agreed to buy 105,000 metric tons of Chinese corn from Dalian Huaxing Enterprise in a tender on Sept 4, a Kocopia official said.

   

The corn for human consumption, can't contain genetically modified organisms. It will be split into two equal lots of 52,500 tons for delivery to Incheon.

   

Kocopia agreed to buy one lot for expected arrival Jan. 10, 2004 at US$121.30 a ton, cost and freight, the official said.

   

The second lot for expected arrival Jan. 25, 2004 was purchased at US$121.40/ton, C&F, he said.

   

Kocopia agreed to buy last week 105,000 tons of Chinese corn from Cargill in a tender, at US$121.28/ton, C&F. In that deal, the non-GMO corn for food will also be divided into two equal lots of 52,500 tons. Shipment dates for the first lot are Dec. 1-20, and Dec. 10-30 for the second lot.