South Korea’s NOFI Buys Estimated 65,000 T Corn

Wedoany.com Report-May 15, On Wednesday, Nonghyup Feed Inc. (NOFI), a leading South Korean animal feed manufacturer, purchased approximately 65,000 metric tonnes of animal feed corn in an international tender. The tender was for up to 138,000 metric tonnes, but NOFI opted for only a portion of the total volume.

The corn purchased is scheduled to arrive in South Korea by September, with expectations that it will be sourced from South America and South Africa. The estimated price for the corn was \$234.46 per ton, which includes cost and freight, with an additional \$1.50 for port unloading. Mitsui, a trading house, is believed to be the seller.

The second portion of the consignment, which was for up to 69,000 tonnes, was not purchased in the tender. These details were provided by European traders, and future estimates regarding prices and volumes are still possible. The report was prepared by Michael Hogan.