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International Buyers Return to U.S. With Major Purchases



(NAFB)--Last month - U.S. Grains Council Director in Korea Byong Ryol-Min led a high-level delegation through the U.S. - focused on reviving strong agricultural ties between the U.S. and Korea. That trip has paid off - as Korea’s largest feed manufacturer bought 2.8-million bushels of U.S. origin corn for the first time in 16-months. Also - the Korea Feed Industry purchased 20-million bushels of corn for the first time in 13-months. USGC Manager of Global Trade Kevin Roepke says it’s exciting to see Korea buying from the U.S. again - and these purchases eclipse what Korea bought from the U.S. all last year - which totaled 16.4-million bushels of corn. USGC suggests lower oilseed and grain prices are to credit for these purchases - and others. For instance - the Feed Industrial Group of Taiwan recently announced the purchase of 2.4-million bushels of U.S. corn to be shipped in late January or early February. USGC Director in Taiwan Clover Chang says this is the first Panamax shipment of U.S. corn purchased by the group in quite some time.

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Topics : Business_Finance
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People : Byong Ryol-MinClover ChangKevin Roepke
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