South Korea's FLC purchases about 67,000 T of corn in a private deal, traders claim
The Feed Leaders Committee of South Korea (FLC) purchased around 67,000 metric tonnes of animal feed corn on Thursday in a private transaction without holding an international tender.
The corn was bought at an estimated cost of $234.99 per ton, including freight. There was also an additional surcharge of $1.25 per ton for port unloading. The seller was thought to be Mitsui, a trading house.
The corn was to arrive in South Korea by September 15, and could have been sourced from either the United States, South Africa, or South America. The deal was made after a 199,000-ton corn purchase by Korean importer MFG in an international bid on Thursday.
The reports reflect the assessments of traders, and it is still possible to estimate prices and volume later. Michael Hogan is reporting.
(source: Reuters)
