SunSirs: China's Domestic DDGS Market Keeps Rising in April
April 29 2021 08:43:25 SunSirs (Linda)
Since April, domestic DDGS prices have continued to rise, and the market has continued to heat up. At the beginning of the month, the average market price of domestic DDGS was RMB 2,550/ton, and the average market price on the 28th was RMB 2,650/ton, an increase of 3.92%.
Beginning in April, terminal aquafeed farming began to support the price of DDGS. The inventory of alcohol factories was low, manufacturers were very expensive, and domestic DDGS prices continued to rise. In mid-to-late April, feed mills started stocking up before May Day. Terminal rigid demand increased, raw material corn prices stopped falling and rebounded, supported by multiple profits, and domestic DDGS prices were running at a high level. Throughout April, the supply of DDGS in the alcohol plant was tight, and the price was mainly high, and the market continued to rise.
On April 28, Heyang Alcohol DDGS quoted at RMB 2680/ton, the price increased by RMB 200/ton from the beginning of the month; Ensign's DDGS quoted at RMB 2,600/ton, the price increased by RMB 150/ton from the beginning of the month; Dongfeng DDGS quoted at RMB 2670/ton Tons, the price is the same as at the beginning of the month.
SunSirs DDGS analysts believe that after May Day, rigid demand for aquaculture has increased, and there is still room for growth in the market outlook for DDGS.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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