SunSirs: Corn Starch Prices Slightly Rebounded This Week (April 3-7)
April 12 2023 09:41:48 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the price of domestic corn starch had slightly rebounded this week. The average price of first grade corn starch consumed at the beginning of the week was 3,134.00 yuan/ton, and the average price over the weekend was 3,148.00 yuan/ton, with a slight increase of 0.45% during the week.
Analysis review
In April, affected by the rainfall in some areas, the arrival of corn in North China and in Shandong Province decreased, some enterprises raised prices slightly to supplement the stock, while the price of corn deep-processing products continued to be low, the deep-processing enterprises continued to make losses in corn processing, and the manufacturers' price-supporting mentality became stronger again, supporting the domestic corn starch market price to rise again slightly this week.
Market outlook
The analysts of corn starch products from SunSirs believe that: the corn price continued to be weak, the starch downstream had a strong wait-and-see attitude, the deep processing enterprises continued to lose money, the operating rate of manufacturers continued to decline, the market gamed between long and short, and the overall price of corn starch market was in a dilemma. In the short term, corn starch will continue to fluctuate slightly at the current level.
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