South Korea’s FLC buys 55,000–65,000 tons of feed wheat in private deal
South Korea’s Feed Leaders Committee (FLC) has purchased around 55,000 to 65,000 metric tons of feed wheat in a private deal without issuing an international tender, European traders said. The wheat can be sourced from any origin worldwide, excluding China, Pakistan, Denmark, Russia, and Argentina, while loading from Ukrainian and Russian ports is also not permitted.
The purchase was reportedly made at around $277.60 per ton C&F, plus a $1.50/ton surcharge for additional port unloading. The seller is believed to be trading house COFCO. Shipment is expected in October, although if sourced from Romania or Bulgaria, delivery would take place between August 15 and September 15.
Market participants note that this deal continues a series of repeated feed wheat purchases by South Korean importers this week, supporting global demand for feed grains.
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