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S. Korea-bound corn shipment departs from war-torn Ukraine

Corporate Newsroom 10:47 September 05, 2022

SEOUL, Sept. 5 (Yonhap) -- POSCO International Corp., a South Korean commodities trader, said Monday its shipment of Ukrainian corn departed from a port in the war-torn country and will arrive home later this month.

A vessel carrying 61,000 tons of corn left Pivdennyi Port in Ukraine on Aug. 16 and is on its way via a sea route to reach Incheon, 27 kilometers west of Seoul, around late September, the trading arm of POSCO Holdings Co. said in a release.

"All of the corn will be used for feed, which will help stabilize the domestic feed prices," POSCO International said.

The major grain trader has been struggling to deliver the shipments from Ukraine due to Russia's blockade of the Black Sea coast amid its invasion into Kyiv.

The company said in June it reopened some parts of a grain terminal it runs in the southern Ukrainian city of Mykolaiv, after it had been closed for months since the Russia-Ukraine conflict in February. The terminal has an annual handling capacity of 2.5 million tons of grains, including corn, wheat, barley and soybeans.

This photo, provided by POSCO International Corp. on Sept. 5, 2022, shows a South Korea-bound vessel carrying corn waiting to depart from a port in Ukraine. (PHOTO NOT FOR SALE) (Yonhap)


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