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    Home > Active Ingredient News > Feed Industry News > Indonesia and Taiwan are expected to actively purchase corn this week

    Indonesia and Taiwan are expected to actively purchase corn this week

    • Last Update: 2001-06-06
    • Source: Internet
    • Author: User
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    Introduction: [Indonesia and Taiwan are expected to actively purchase corn this week] Indonesia is expected to continue to buy corn from countries without foot-and-mouth disease this week, and Taiwan is likely to resume corn procurement, with no corn procurement in the past week due to the short-term oversupply of corn in Taiwan's local market, the regional grain and oil trader said Friday Traders in Southeast Asia and Southeast Asia said this week they expect some Southeast Asian buyers to continue to buy corn to meet demand for corn for shipping in June Thailand's Charoen Pokphand Group (CPG) bought 54000 tons of US corn from Taiwan's mfig group early last week to meet the group's needs in Indonesia Before CPG's move, the Indonesian government took preventive measures to prevent the spread of foot-and-mouth disease and prevent a ship carrying 42000 tons of Brazilian corn from entering the country A US corn freighter named happy world is scheduled to sail from the Pacific Northwest harbor before May 26, and is likely to arrive in Indonesia next June In June, CPG expects to receive at least 12000 tons of Thai corn, as well as about 30000 tons of Chinese corn Traders said An official from Thailand's nanaparn enterprise said Indonesia's recent demand for Thai corn began to cool, as Indonesia has successfully turned its demand to us corn after banning imports of Argentine and Brazilian corn Nanaparn has been actively selling corn to Indonesia in recent months, taking advantage of the abundant local corn supply in Thailand Traders said that in dongzhaowa, Indonesia, the local corn price is 1500-1550 rupees per kilogram, and in Lampung, the local corn price is 1400-1500 rupees as corn harvesting has begun For Malaysia, it is unlikely that feed processing plants will import new corn this week, because the local market can easily buy cheap Argentine corn Previously, a ship of 38000 tons of Argentine corn was transferred to Malaysia through Indonesia Several Malaysian feed processing plants have purchased about 8000 tons to 9000 tons of corn, which are transported from Indonesia by MV Agia Eirini cargo ship The ship is rented by Cargill Indonesia and the CNF price is about $100 per ton On Thursday, US corn was quoted at CNF Indonesia at US $108 per ton, shipped by Panamax from June to July China's CNF for June to July shipments is $114 to $115 a tonne Taiwan, Taiwan, China is expected to resume corn procurement this week In the past few weeks, Taiwan's main local corn procurement groups have been on the sidelines This is the news from people close to mfig and mlfg "Now that mfig has decided to sell a shipment of American corn to Indonesia, members of the group are likely to start a routine procurement plan As a result, it is likely that either group will hold a tender this week " A manager with ties to the two groups said Mfig decided early last week to sell a shipment of 54000 tons of U.S corn it purchased in March to Charoen Pokphand, a Thai feed processing plant that also has plants in Taiwan Charoen Pokphand is also an active member of the purchasing group Taiwan's sugar company is also likely to hold a bid this week to buy 18000 tons of US corn, said a manager at the company Among Taiwan's local purchasing groups based on the U.S Gulf shipment, the corn purchased by Taiwan sugar industry is shipped to June, mlfg to June, mfig to July, and huishuang to June South Korean traders expect South Korea's corn buying group to keep a low profile this week, following last week's heavy corn purchases They said the vast majority of local buyers in South Korea purchased corn ships as far back as September "Last week, three groups in South Korea actively purchased corn, purchasing a total of 400000 tons of corn in the tender to benefit from the decline in US corn prices." One trader said, "I think these three buyers have successfully copied the bottom." BFM, one of South Korea's feed corn purchasing groups, bought 130000 tons of American corn on Tuesday and shipped it from August to September, with CNF prices ranging from $100.37 to $100.57 per ton Previously, KFA, the largest feed corn purchasing group in South Korea, purchased 165000 tons of corn in a bid on Wednesday to produce livestock feed, which was delivered to Incheon port by three Panamax cargo ships The Busan branch of the Korean Feed Association (KFA) bought 110000 tons of American corn from Cargill last Wednesday to produce livestock feed at a CNF price of $99.88 per ton The CNF price is 99.88 US dollars per ton for the production of livestock feed Two ships of corn are shipped from the U.S Gulf from July 17 to August 5 and August 6 to 25, or from the Pacific Northwest port from August 22 to August 21 and August 22 to September 10, both of which are unloaded at Busan Port and Ulsan port "With CBOT corn prices rebounding on Wednesday night, I don't think suppliers will offer corn at CNF prices below $100 per ton any more." "But last week there was no other source of corn that could compete with us corn, which was unusually cheap," said one trader Ironically, the CNF price of American corn in the Korean market is almost the same as the FOB price of Chinese corn " On Wednesday, South Korea's NACF, one of the South Korean feed ingredients purchasing groups, bought 12500 tons of Chinese corn from Daewoo company to produce livestock feed The CNF price was US $106 per ton, and the shipment was from June 26 to July 15, and it arrived at Mokpo port On Friday, NACF is also looking for 157500 tons of optional feed corn from the production area, which will be shipped from August to September Japanese traders said they expect corn purchases to slow down this week as 70% of the corn needed to ship between July and September has already been purchased "Japan will continue to purchase corn slowly, and pay close attention to the price trend of CBOT and corn demand in Japan." One trader said Traders estimate that Japan has completed the purchase of 75% of the feed corn demand for the July September shipment and 60% of the food corn demand for the July September shipment In most cases, Japan purchases American corn to meet the demand for feed corn, because the price of American feed corn is continuously attractive and there is no risk of foot-and-mouth disease infection Traders added that Japan had purchased 600000 tons of edible corn, shipped from July to September, more than half of which were non-U.S corn, including South African corn and Chinese corn During this period, two international trade banks are likely to ship 180000 tons of South African yellow corn to Japan "Although some Japanese starch manufacturers are interested in purchasing Chinese corn for shipment after July, the offer of Chinese corn is limited to the shipment in July." Another trader said, "Chinese corn exporters did not provide corn for shipment beyond July." He said that the current FOB price of Chinese corn in Japan is $111 to $113 per ton Chinese traders say China's corn exports have plummeted dramatically since an export bid was held last month, and are expected to remain stagnant in the near future In that tender, China sold 750000 tons of corn for June August shipment at a FOB price of $102 per ton However, the market demand for Chinese corn is not high in the near future, especially in Malaysia, which has just received a shipment of Argentine corn from Indonesia The price of Argentine corn in the local market is 13 to 14 US dollars per ton better than that of Chinese corn Most of the corn sold by Jilin grain group and China grain, oil and food import and Export Corporation in May's bidding was initially expected to be shipped to Malaysia and South Korea Traders say most of the international trading companies that bought Chinese corn in the last bid now use South Korea as their sales destination But at present, American corn price is more attractive than Chinese corn (one dollar is 11125 rupees per year, or 45.33 Tagus.) China feed industry information network DBU
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