September 30, 2003



South Korea Group Seeks 105,000 Tons Corn


The Korea Corn Processing Industry Association is seeking offers to make a purchase of 105,000 metric tons of corn for human consumption in a tender closing 0700 GMT Wednesday, a Kocopia official said Tuesday.


The corn, which must not contain genetically modified organisms, will be split into two equal lots of 52,500 tons for Incheon delivery, said the official. One is expected to arrive Feb. 5, 2004, while the other is expected to arrive Feb. 15. Kocopia is seeking offers for Chinese, South American or U.S. corn, he said.


Early September, Kocopia agreed to buy 105,000 tons of Chinese corn from Dalian Huaxing Enterprise in a tender. The non-GMO corn for food will be split into two equal lots for Incheon. Kocopia agreed to buy one lot for expected arrival Jan. 10, 2004 at US$121.30 a ton, cost and freight. The second lot, for expected arrival Jan. 25, 2004, was purchased at US$121.40/ton, C&F.