SunSirs: Domestic DDGS Market Fluctuated and Fell in March
March 31 2023 13:18:32 SunSirs (John)
Price trend
According to the monitoring data of SunSirs, since March, the domestic DDGS market has continued to operate in a weak manner, with prices oscillating downward. At the beginning of this month, the average market price of domestic DDGS was 2,893 RMB/ton. On March 30, the average market price of domestic DDGS was 2,810 RMB/ton, with a price decrease of 2.88%.
Poor terminal demand, with domestic DDGS market mainly falling due to fluctuations in March
Since March, the terminal aquatic feed industry has been in the off-season of consumption, with DDGS trading flat and the market declining. Leading by bad news, the alcohol factory overall lowered the factory price of domestic DDGS, with the mainstream quotation of around 2850 RMB/ton, and the overall decline of 50 RMB/ton. The market of raw corn and substitute soybean meal and rapeseed meal were mainly weak and fell, dragging down the market of DDGS.
In the middle of the month, the demand for terminal aquatic feed remained flat, while the market for raw material corn continued to decline, with multiple negative impacts. The DDGS market continued to decline, and the mainstream quotation fell below 2,850 RMB/ton.
At the end of the month, the alcohol factory continued to reduce the factory price of domestic DDGS, and the mainstream price had dropped to 2,810 RMB/ton, down 1.17% from the beginning of the week.
Market outlook
Agricultural product analysts from SunSirs believe that after April, the demand for aquatic feed will increase, and the future market of DDGS is expected to stop falling and rebound.
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