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SunSirs: Corn Starch Price was Weakly Sideways This Week (March.9-13)
March 17 2020 09:58:50SunSirs(Daisy )

This week's domestic corn starch prices were in slightly weak adjustment. The beginning of the week to eat a corn starch average price is 2433.33 RMB/ton, and the weekend average price is 2426.67 RMB/ton, a small decline of 0.27%.

Entering March, the starch industry as a whole start to rise. On the other hand, subject to remaining weak domestic demand for corn starch and relatively loose starch market supply, the downstream players have strong waiting and seeing attitude, which caused cool trading atmosphere. 

Besides, starch industry continues to increase overall inventory. To ensure outbound, part of the starch enterprises decline for the price this week. Therefore, there is a small weak domestic corn starch market prices this week.

Data: By February 29, 2020, the main production areas had acquired a total of 139.63 million tons of middle and late rice, corn and soybean, a decrease of 13.17 million tons. Heilongjiang, Shandong and other 11 major production areas have purchased a total of 66.83 million tons of corn, down 6 million tons year on year. 

Market forecasting aspect, SunSirs corn starch product analysts think that corn market supply has increased, and starch downstream demand continues to be weak. In addition, starch inventory backlog caused a small weak adjustment in the starch price while starch demand is difficult to improve in the short term. Domestic corn starch market price rebound under pressure.

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