Price trend

According to the Commodity Market Analysis System of SunSirs, the price of domestic corn starch slightly strengthened this week. The average price of first grade corn starch consumed at the beginning of the week was 3,172.00 RMB/ton, and the average price on the weekend was 3,182.00 RMB/ton, with a slight increase of 0.32% during the week.

Analysis review

In April, the domestic corn price continued to rise. Supported by costs, the domestic corn starch market price was stronger. In mid April, domestic corn prices slightly declined. Due to the continued weakness of downstream demand for starch, the overall operating rate of starch enterprises was relatively low, corn starch inventory continued to decline, corn starch processing continued to suffer losses, and manufacturers' attitude towards price support remained unchanged. Supported by these factors, the overall domestic corn starch prices continued to be stronger this week.

Market outlook

The analysts of corn starch products from SunSirs believe that: the cost of raw materials was falling again, the downstream demand continued to be weak, the operating rate of enterprises was low, the starch inventory declined, and is long and short gamed in the market. It is expected that the overall price rise of domestic corn starch market is not motivated enough, and the overall price will stabilize and slightly fluctuate forward.

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