Agro-Fisheries and Food Trade Corporation, a state-owned company in South Korea, purchased approximately 20,500 metric tonnes of rice, mainly from Vietnam. The international tender sought up to 78.744 tons. It closed on November 5.

20,000 tonnes will come from Vietnam, and 500 tonnes from Thailand.

The tender sought arrival in South Korea for consignments that would be delivered between December 15, 2020, and June 30, 2030.

It can take a few weeks for the corporation to make a decision on a tender. They may also request that samples be sent to Korea to be tested.

Four 5,000-ton consignments were purchased, two from MH Ethanol for $344.86 a ton and another two from Posco International for $334.50 a ton and $332.90 a tonne c&f.

LCI purchased another 500 tons of Thai Hom Mali White Rice at $1,046 per ton c&f.

A total of 56,944 tonnes of non-glutinous short-grain brown rice from China was also requested in the tender.

The reports reflect the assessments of traders. Further estimates on prices and volume are possible in the future. (Reporting and editing by Louise Heavens in Hamburg)

(source: Reuters)