November 26, 2004

South Korea Kocopia Buys 55,000 MT Corn from Toepfer

The Seoul-based Korea Corn Processing Industry Association, or Kocopia, bought up to 55,000 metric tons of non-genetically modified corn from trading house Toepfer in a tender concluded Thursday, according to a Seoul-based trader who received the tender result.

Toepfer sold one cargo of food corn at either $162.23 a ton for US or South American origin, or $152.23/ton for China origin, the trader said. Both prices are after cost and freight.

Kocopia will accept either 55,000 tons of US or South American corn, or 52,500 tons of Chinese corn, the trader said.

The cargo is set to be shipped to South Korea March 10, 2005.