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S. Korea’s NOFI tenders for 130,000 T feed wheat, excludes Black Sea.
Mar 09, 2022

Leading South Korean feed maker Nonghyup Feed Inc. (NOFI) has issued an international tender to purchase up to 130,000 tonnes of animal feed wheat with the Black Sea region among areas excluded as a supply origin, European traders said on Tuesday.
 
The deadline for submission of price offers in the tender is also Tuesday, March 8.
 
Grain importers globally have been hit by the sudden stop to grain exports from Ukraine and a sharp reduction from Russia after the conflict in Ukraine, which Moscow has termed a 'special operation,' closed ports.
 
Chicago wheat futures slid for the first time in seven sessions on Tuesday, with prices falling almost 8%, although losses were limited by concerns over Black Sea supplies amid the Russia-Ukraine conflict. GRA/
The wheat in NOFI’s tender is sought in two consignments of 45,000 to 65,000 tonnes. Argentina, Pakistan, Denmark and China are also excluded as origins.
 
The first consignment is sought for arrival in South Korea between May 1 and June 30 with the seller free to offer shipment options in this period from the United States Pacific Northwest coast, U.S. Gulf, Canada, Australia, South America, India or South Africa.
 
'It looks like importers are having to show a lot more flexibility after the Black Sea crisis caused such disruption to shipments for delivery in coming months,' one European trader said.
 
The second shipment is sought for arrival around July 15.
 
If sourced from the U.S. Pacific Northwest coast, Australia or Canada, shipment is sought between June 12-July 1.
 
If sourced from the U.S. Gulf, shipment is sought between May 23-June 11. If from South America between May 13-June 1, from South Africa between May 28 and June 16 or from India between June 7-June 26.
 
NOFI on Tuesday also issued a new tender to buy 60,000 tonnes of soymeal.
    
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