Process Management

News 238 views last update:6 Aug 2012

Feed firms buy 40,000t Ukrainian wheat

Feed millers in the Philippines, Southeast Asia's second-biggest consumer, bought 40,000 metric tons of Ukrainian feed wheat from Noble Group Ltd., said two company executives involved in the tender.

The Philippine Association of Feed Millers Inc. bought the grain at a tender on January 16 at $147.95 a ton, including freight costs, for shipment between March 15 and April 15, said the executives, who declined to be identified because the transaction was confidential. Noble spokesman Stephen Brown declined to comment, saying he had no information on individual transactions.

The Philippines may import at least 500,000 tons of feed wheat by June, after domestic prices of corn doubled in a month, as supply of grain used in livestock feed declined. That compares with 90,000 tons to 100,000 tons purchased by the Southeast Asian nation in all of 2008.

[Source: Bloomberg]

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