October 2, 2006

South Korea's Kocopia buys up to 55,000 tonnenes corn in tender

Seoul-based Korea Corn Processing Industry Association, or Kocopia, bought up to 55,000 tonnes of optional-origin corn from trading house Cargill in a tender concluded Friday (Sep 29), a Seoul-based trader said.

Cargill can supply one cargo of non-genetically modified corn at US$175.88 a tonne of US or South American origin or one cargo of Chinese origin at US$169.88/tonne, the trader said.

Cargill can supply either a 55,000-tonne cargo of US or South American origin, or a 52,500-tonne cargo of Chinese origin, he said.

All prices are after cost and freight.

Shipment is set for Jan 20 to the port of Incheon.