Korean Corn Processing Association reduces planned corn purchases
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Last Update: 2002-01-28
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Source: Internet
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Author: User
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Introduction: Singapore, Jan 28 (Dow Jones): kocopia reduced the amount of corn to be purchased in the next bidding from 150000 tons to 100000 tons, officials from the Korean Corn Processing Industry Association (kocopia) said on Monday This decrease is mainly due to the adjustment of the inventory of the members of the association The bidding will be held on Friday or early next week, as officials in charge of bidding will be out most of the week Kocopia will be more interested in Brazilian corn in this bidding because its price is cheaper than that of US corn and its quality is better than that of Chinese corn, the official said At the beginning of December, kocopia invited bids for 105000 tons of corn, but rejected all bids because the price was too high In this bidding, the psychological price of kocopia is US $115 per ton, and the CIF price of main ports in South Korea (CNF) The corn bidding plan is divided into two ships, each of which is 50000 tons, but the association has not determined the ship schedule.
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