South Korea’s MFG buys some 68,000 T corn in private deal, traders say
HAMBURG, Nov 22 (Reuters) -South Korea's Major Feedmill Group (MFG) purchased an estimated 68,000 metric tons of animal feed corn in a private deal on Friday without issuing an international tender, European traders said.
The purchase was expected to be sourced optionally from the United States, South America or South Africa.
One consignment was bought at an estimated $236.99 a ton cost and freight (c&f) included plus an additional $1.50 a ton surcharge for additional port unloading.
Seller was believed to be trading house Cargill with arrival in South Korea around March 5, 2025.
Shipment if sourced from the U.S. Pacific Northwest coast was between Jan. 18 and Feb. 18. If South African corn is provided, only 50,000 tons need be supplied.
The MFG had previously purchased an estimated 65,000 to 70,000 tons of feed corn in a separate private deal on Thursday expected to be sourced optionally from the United States or South America.
Reporting by Michael Hogan
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