SunSirs: Domestic DDGS Market Still Weakened in April
April 27 2023 14:47:17 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, since April, the domestic DDGS market has remained weak and declining, and lacked power for price to rebound. At the beginning of the month, the average market price of domestic DDGS was 2,810 RMB/ton. On April 26th, the average market price of domestic DDGS was 2,780 RMB/ton, with a price drop of 2.88%.
Negative factors suppressed, domestic DDGS market oscillated and fell in April
In early April, the demand for terminal aquatic feed had not yet fully recovered, and the market for DDGS purchases and sales was relatively scarce, transactions were limited and the market was weaker overall. The mainstream quotations were mostly from the Northeast region, with an average market price of 2,500 to 2,650 RMB/ton. Some alcohol factories still offered high prices, and the overall market situation was still weak and stable.
In mid April, the demand for terminal aquatic feed increased, and DDGS transactions in the market improved, leading to an upward trend in the market. The mainstream quotations were mostly from the Northeast region, with an average market price of 2,650-2,700 RMB/ton, and the overall market price had slightly increased.
At the end of April, bearish factors were still present, and the domestic DDGS market was still weak and mainly downward, with prices returning to the line of 2,600 RMB/ton, and overall weak consolidation was the main trend.
Analysis review
Agricultural product analysts from SunSirs believe that in May, the rigid demand for aquatic feed will increase, and the future market of DDGS is expected to rebound.
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