SunSirs: Domestic Corn Starch Prices Tended to Be Stronger in April

Price trend

According to the Commodity Market Analysis System of SunSirs, the overall price of domestic corn starch was stronger in April. On April 1st, the average price of edible first-class corn starch was 3,142.00 RMB/ton, and on April 30th, the average price was 3,180.00 RMB/ton, an increase of 1.21% within the month.

Analysis review

In April, affected by the rainfall in some areas, the arrival of corn in North China and Shandong Province decreased, some enterprises raised prices slightly to supplement the stock, at the same time, the price of corn deep-processing products continued to be low, the loss of corn processing continued to increase, and the manufacturers' price-supportive mentality became stronger, supporting the slight recovery of the domestic corn starch market price at the beginning of the month.

In the middle of April, the domestic corn market price stopped falling and rebounded slightly, the raw material cost stopped falling and rebounded, the operating rate of starch enterprises continued to be low, the corn starch inventory continued to decline, and the domestic corn starch market price continued to be stronger.

Market outlook

The analysts of corn starch products from SunSirs believe that: in April, the price of the domestic corn market was weaker in shock, the cost of corn starch processing continued to fall, and the downstream demand for starch continued to be weak. Under the pressure of cost, the domestic corn starch market price will be under pressure overall in May. Supported by factors such as the continuous low operating rate of starch enterprises, the overall low inventory of corn starch, and the persistent attitude of manufacturers towards high prices, the overall decline space of domestic corn starch in May is limited, the overall price will be at the current level, with slight fluctuations moving forward.

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