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SunSirs: Chinese Corn Starch Prices Continued to Rise Last Week (July. 6-10)

July 14 2020 10:11:00     SunSirs (Linda)

1. The price trend of corn starch in China

According to SunSirs monitoring, the price of corn starch in China continued to rise last week. The average price of edible first-grade corn starch at the beginning of the week was 2,556.67 yuan/ton, and the average price at the weekend was 2,593.33 yuan/ton, up 1.43% during the week.

2. Market analysis

In July, the price of China’s corn market continued to be strongly influenced by the auction policy of the State Reserve. The cost of raw materials continued to rise. In addition, the peak season for starch demand was coming. At the same time, high temperature weather caused some manufacturers to enter a state of shutdown and maintenance. Boost domestic corn starch prices.

On July 9, 2020, the Grain Trading Coordination Center of the State Grain and Material Reserve Bureau and the national grain trading centers of various provinces (autonomous regions and municipalities) in the network organized the National Temporary Reserve Maize Bidding Fair, planning to list and trade the State Reserve in 2015. The State Reserve Heilongjiang, Corn in Jilin, Liaoning and Inner Mongolia was 3,970,072 tons, with a turnover of 3,970,072 tons and a turnover of 100.00%. The highest price was 2,130 yuan/ton, the lowest price was 1,750 yuan/ton, and the average transaction price was 1,899 yuan/ton.

3. Outlook forecast

SunSirs corn starch product analysts believe that: under the support of costs and demand, the domestic corn starch market price will continue to run strongly in the short term.

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