South Korea’s MFG buys about 125,000 T feed wheat
It is expected to arrive on Sept. 5
13 March 2023
1 minute read
By: South Korea's Major Feedmill Group (MFG) purchased about 125,000 tonnes of animal feed wheat in private deals on Thursday without issuing an international tender, European traders said, according to Reuters.
One 65,000 tonne consignment was purchased at an estimated $309.90 a tonne c&f plus a $1.50 a tonne surcharge for additional port unloading.
It was believed to have been bought from trading house Viterra with wheat arrival in South Korea around Sept. 5.
Shipment of the first consignment was between July 1-July 31 if sourced from the US Gulf or Black Sea region, between July 6-Aug. 5 from Brazil and between July 21-Aug. 20 from the U.S. Pacific Northwest coast, Australia or Canada.
A second 60,000 tonne consignment was purchased at an estimated $305.00 a tonne c&f plus a $1.50 a tonne surcharge for additional port unloading.
The second consignment was believed to have been bought from trading house ADM with wheat arrival in South Korea around Sept. 15.
Shipment of the second consignment was between Aug. 1-Aug. 31 from the US Pacific Northwest coast or Australia and between July 10-Aug. 10 if from Rumania, Bulgaria or other EU origins.
Russia and Ukraine are excluded as origins in both deals. Force majeure may not be declared on Black shipments because of the war in Ukraine, traders said.
