International Agriculture News

South Korea buys about 118,900 tonnes rice in tender

South Korea’s state-backed Agro-Fisheries & Food Trade Corp. purchased about 118,900 tonnes of rice in a tender which closed on Monday, European traders said.

The majority of the rice was purchased from China with some also coming from Vietnam, Australia and the United States, they said.

The tender had sought up to 132,790 tonnes of non-glutinous rice for arrival between December 2017 and March 2018.

The purchases from China involved around 19,110 tonnes bought at $748.89 a tonne, 22,000 tonnes bought at $803.00 a tonne, 22,222 tonnes bought at $748.89 a tonne and 16,679 tonnes at $709.00 a tonne. Prices include delivery to South Korea, traders said.

Some 17,778 tonnes was purchased from the United States at $856.47 a tonne delivered to Korea, 11,111 tonnes was bought from Vietnam at $695.00 a tonne delivered Korea and 10,000 tonnes was bought from Australia at $778.00 a tonne delivered to Korea.

No purchase of Thai rice was immediately reported although exporters in Thailand had been optimistic about winning part of the business.