South Korea's corn import policy will be more price centered

Introduction: an important importer from South Korea said on Friday that because the price is more appropriate, South Korea may transfer to buy corn and feed wheat from the United States If the news is true, the corn purchased by South Korea at the bidding meeting held in China a few days ago is likely to be the last corn imported from China this year Recently, two major grain foreign trade enterprises in China, Jilin grain group and COFCO group, jointly invited bids from abroad, with a base price of 105 US dollars per ton (FOB) and a shipping period from September to February of the following year The president of the Korean Feed Association (KFA) made it clear that the price was not very attractive In comparison, the price of American corn shipped in December is US $113-114 / ton (C & F), while the FOB price in China plus the freight to Korea (about US $6 / ton) is US $111-112 / ton of C & F, and the chairman of the association thinks that the preferential price of US $108-109 / ton can be obtained from the Americans As it turns out, KFA bought 55000 tons of corn for feed from Cargill on Wednesday, regardless of origin The price is US $108.95 per ton (C & F price shipped from the United States or South America) or US $105.95 per ton (shipped from China) The shipment is scheduled to arrive on December 20 Another South Korean businessman said that if they could get corn cheaper by $3-50 from other places, they would consider it The president of the association also said that in the future, South Korea may buy more wheat for feed, rather than corn, mainly considering that the difference between the two has reached $10 / ton If this price gap continues, South Korean Buyers will buy 2.4-2.5 million tons of feed wheat next year, and significantly reduce the import of corn By then, KFA members will buy 120000-140000 tons of feed wheat every month, higher than the normal 50000 tons / month South Korea is the biggest importer of corn in China KFA is the main importer It usually imports 100000 tons of corn for feed every month, with an average of 1.2 million tons per year (author:) share to feed Weibo share to: