December 1, 2023

South Korea's Agro-Fisheries Corp re-tenders for non-GMO soybeans

South Korea's state-backed Agro-Fisheries & Food Trade Corp has cancelled an international tender for the acquisition of approximately 50,000 metric tonnes of food-quality non-GMO soybeans, and issued a new tender for the same volume, according to European traders, Nasdaq reported.

The deadline for submitting price offers in the fresh tender for 50,000 tonnes of GMO-free soybeans is set for December 5, the traders said.

The soybeans in the renewed tender are being sought from various global origins, with delivery scheduled in two 25,000-tonne consignments expected in January 2025 and February 2025. This mirrors the terms of the previous tender, as the agency regularly procures supplies with deliveries scheduled several years later.

In addition to the large tender, a separate bid for 20,000 tonnes of GMO soybeans in shipping containers from the agency is also slated to close on December 5.

-      Nasdaq