South Korea does not allow wheat loaded in the Black Sea ports of Russia and Ukraine to tender
South Korea’s Feed Leaders Committee (FLC) is unlikely to have made a purchase in an international tender for the supply of up to 65,000 tonnes of feed wheat, Reuters reported, citing European traders.
According to them, the proposed prices were considered too high after an overnight jump in futures in Chicago on forecasts of a reduced harvest in the United States.
The lowest offer was $298.5/t on a C&F basis (including freight) plus a $2/t additional port handling fee. It is believed that this offer was submitted by Cargill for the full 65,000 tonnes.
Delivery to South Korea was expected in one batch approximately by August 31.
The wheat could have been of any origin, except Russia, Argentina, China, Pakistan and Denmark. At the same time, the use of Black Sea ports in Russia and Ukraine for the shipment of grain from any country of origin is not allowed.
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