October 9, 2020

Major Feedmill Group purchases 131,000 tonnes of livestock feed corn

European Traders said South Korea's Major Feedmill Group purchased about 131,000 tonnes of livestock feed corn in two consignments through a private deal made without an issued international tender on October 7, Reuters reported.

The first purchase was for 66,000 tonnes at about US$239.80 per tonne with an extra US$1.25 per tonne surcharge for port unloading.

The traders said trading house Olam was believed to be the seller, with the shipment from South America to arrive in South Korea by February 25 next year.

The second purchase was for 65,000 tonnes at about US$237.88 per tonne with an extra US$1.25 per tonne surcharge for port unloading.

The traders said CHS trading house was believed to be the seller, with the livestock feed corn obtained from any worldwide source except the US Pacific Northwest coast set to arrive in South Korea around January 20 next year.

Major Feedmill Group's two consignment purchases were made after NOFI, South Korea's biggest livestock feed producer purchased 206,000 tonnes of corn through an international tender on October 7. The corn, projected to be sourced from South America, were bought at US$239.80 per tonne plus US$1.25 per tonne surcharge for port unloading.

-      Reuters