South Korea buys soyameal

November 20, 2012

Buys Soyameal

South Korea’s largest feedmaker Nonghyup Feed Inc (NOFI) has purchased 55,000 tonnes of soyameal in a tender for up to 110,000 tonnes which closed on Monday, European traders said. Price was said to be $501.69 a tonne c&f and seller was Glencore. The soyameal purchased is for arrival by Apr. 25, 2013. The soyameal was said to be of South American origin.

The deal followed purchases on Friday by two other Korean buyers of a total 110,000 tonnes of soyameal, also thought likely to be sourced from South America, at the higher prices of $507.00 and $507.36 a tonne c&f. Chicago soyameal futures slufmped 1.4 percent on Friday as soya prices fell to a five-month low as China cancelled soyabean import orders.


Courtesy: Reuters

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