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SunSirs: China's Corn Starch Prices Continued to Rise Last Week (July.13-17)

July 22 2020 08:08:47     SunSirs (Linda)

1. China's corn starch price trend

According to SunSirs monitoring, domestic corn starch prices continued to rise last week. At the beginning of the week, the average price of first-grade corn starch for consumption was 2,593.33 yuan/ton, and the average weekend price was 2,620.00 yuan/ton, an increase of 1.03%.

2. Market Analysis

This week, the State Reserve's auction transactions continued to maintain high volume and prices. The State Reserve’s auction transactions were hot. The domestic corn market price followed the policy auction prices to rise all the way, the cost of processing raw materials continued to rise, and the downstream starch consumption rebounded after the weather turned hot. The frequent rains in July caused the difficulty of exporting starch to increase year-on-year. With the support of many favorable conditions, the domestic corn starch market price continued to rise.

On July 16, 2020, the National Grain Trade Coordination Center of the State Administration of Grain and Material Reserves and the National Grain Trade Center of the networked provinces (autonomous regions and municipalities) organized the National Temporary Storage Corn Bidding Fair, and plans to be listed on the National Reserve in 2014 and 2015. In Heilongjiang, Jilin, Liaoning, and Inner Mongolia, the corn was 4,026,026 tons, 4,026,026 tons were sold, 100.00% of the transaction, the highest price was 2,290 yuan/ton, the lowest price was 1,790 yuan/ton, and the average transaction price was 1950.00 yuan/ton.

3. Outlook

SunSirs corn starch product analysts believe that under the support of cost and demand, domestic corn starch market prices will continue to be strong in the short term.

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