SunSirs: Corn Starch Prices Declined Slightly This Week (March 20-24)
March 27 2023 09:34:30 SunSirs (John)
Price trend
According to the monitoring of SunSirs, the price of domestic corn starch declined slightly this week. At the beginning of the week, the average price of edible grade 1 corn starch was 3,202.00 RMB/ton, while the average price at the weekend was 3,176.00 RMB/ton, down 0.81% during the week.
Analysis review
In the middle of March, the domestic corn market prices fell comprehensively, and under the pressure of the continuous decline in costs, the downstream trading entities of corn starch had a stronger wait-and-see attitude. Processing profits continued to suffer losses, and manufacturers' prices were not matched by the continued decline in raw material costs. In order to ensure shipment, enterprises had successively lowered their factory prices, while the domestic corn starch market price declined slightly.
Market outlook
The corn starch product analyst from SunSirs believes that the raw material cost continued to be weak, and the downstream demand for starch had a strong wait-and-see attitude. In the short term, the domestic corn starch market price still has some room to fall.
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