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South Korea tenders to buy 177,000 T rice mainly from U.S.

Adds shipment periods, detail

HAMBURG, Nov 1 (Reuters) – South Korea’s state-backed Agro-Fisheries & Food Trade Corp. has issued an international tender to purchase an estimated 177,000 metric tons of rice, largely from the United States, European traders said on Wednesday.

Of the total, 137,000 tons should be sourced from the United States, 20,000 tons from any origins and 20,000 tons from Vietnam.

The deadline for submissions of price offers in the tender is Nov. 2 for the U.S. and optional origin rice and Nov. 9 for the Vietnamese rice, they said.

For the U.S. origin, the tender seeks a combination of non-glutinous medium grade rice and non-glutinous brown medium grade rice for arrival in South Korea in a series of consignments in 2024 between Jan. 24 and Aug. 1, they said.

The optional origin should be non-glutinous brewers milled rice grade for arrival in South Korea in 2024 between Jan. 24 and May 31.

Non-glutinous brewers milled grade rice is also sought from Vietnam for arrival in 2024 between May 1 and Nov. 30.

Results of the tender may not be known for some weeks after price submissions, traders said. The corporation often requires rice samples to be sent to Korea for analysis before making a final award, traders said.

(Reporting by Michael Hogan, editing by David Evans)

https://www.nasdaq.com/articles/south-korea-tenders-to-buy-177000-t-rice-mainly-from-u.s. QR Code

Published Date: November 1, 2023

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