SunSirs: Soybean Meal Market Boosted Domestic DDGS Market in China
September 16 2022 09:59:31 SunSirs (Selena)
According to the monitoring data of SunSirs, since September, the domestic DDGS market has been rising continuously, surging for half a month. As of September 15, the average price of the domestic DDGS market was 3,125 RMB/ ton, with a price increase of 7.76%.
Since September, the rigid demand for terminal feed has increased. The USDA report has driven up. The market for soybean meal, a substitute, has risen sharply. The mainstream price has exceeded 4,900 RMB/ ton, and is expected to exceed 5,000 RMB/ ton. The domestic DDGS market has kept up with the rise, and the price has risen substantially, up nearly 8%. Some alcohol plants shut down for maintenance, and the supply became tight, supported by multiple favorable factors. The domestic DDGS market kept rising, and the price broke the 3,100 RMB mark, a new high in the year.
SunSirs agricultural product analyst believes that the profit still exists, and China domestic DDGS market is stronger in the short term.
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