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SunSirs: China's Corn Starch Prices were on the Strong Side Last Week (July.20-24)

July 27 2020 08:24:28     SunSirs (Linda)

1. China's corn starch price trend

According to SunSirs monitoring, domestic corn starch prices continued to rise this week. At the beginning of the week, the average price of first-grade corn starch for consumption was RMB 2,620.00/ton, and the average price at weekends was RMB 2,636.67/ton, a slight decrease of 0.27%.

2. Market Analysis

Last week, the state reserve corn auction transactions were still hot, with the average transaction price breaking through the 2,000 yuan/ton mark. Under the support of policies and demand, the domestic corn market prices have been rising steadily, and the cost of raw materials has continued to rise. Some manufacturers have once again raised their starch prices. The price of domestic corn starch market continued to be strong.

July 23, 2020, the National Grain and Material Reserve Bureau Grain Trading Coordination Center and the networked provinces (autonomous regions, municipalities) National Grain Trading Center organized the National Temporary Storage Corn Bidding Fair, planning to be listed on the National Reserve in 2014, 2015 National Reserve Heilongjiang , Jilin, Liaoning, and Inner Mongolia, three provinces and a district of 3,974,163 tons of corn, 3,974,163 tons of transactions, 100.00% of the transaction, the highest price of 2,380 yuan/ton, the lowest price of 1,710 yuan/ton, the average transaction price of 2,017.00 yuan/ton.

3. Outlook

SunSirs corn starch product analysts believe that under the support of raw material costs and downstream demand, domestic corn starch prices will continue to run firm in the short term.

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