Major Feedmill Group of South Korea (MFG) bought an estimated 132,000 tons of animal feed in a private transaction on Friday, without issuing a tender to the international market.

All of the products were expected to come from South America.

A 66,000-ton consignment, purchased at an estimated $242.89 per ton C&F plus an additional $1.25 per ton for port unloading charges for shipment from South America to arrive in South Korea by Oct. 15, was bought between Aug. 1 and 31.

A second consignment of 66,000 tons was purchased at an estimated $242.79 per ton C&F plus an additional $1.25 per ton surcharge to cover additional port unloading. The shipment will be from South America and arrive in South Korea between August 15-September 15 with an arrival date around October 31.

The seller was reported to be ADM trading house. Further estimates of price and volume are possible later.

The purchase was made after a separate ADM transaction on Friday, when the Feed Leaders Committee of South Korea (FLC), purchased approximately 66,000 tons corn from South America and South Africa. Michael Hogan reported the story.