November 18, 2011


Taiwan buys 55,000 tonnes of Brazilian soy


The Taichung division of Taiwan's Breakfast Soybean Procurement Association (BSPA-T) has purchased 55,000 tonnes of Brazilian soy in a tender which closed on Thursday (Nov 17), European traders said.


The seller was said to be Cargill and shipment from Brazilian ports was between December 27, 2011, to January 10, 2012, traders said.


The price was said to be close to US$2.14 a bushel c&f free out (ciffo) above the Chicago March soy contract.


Under the ciffo terms, ship unloading costs at destination are carried by the cargo purchaser.


The tender on Thursday had sought 40,000 to 60,000 tonnes of US or South American soy.

Observers predicted that Brazil will take over as the world's top soy exporter from the US with surging sales to Asia boosting Brazil's market share.

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