SunSirs: Corn Starch Prices Slightly Rebounded (May 22-26)
May 30 2023 11:02:10 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the price of domestic corn starch slightly rebounded this week. The average price of first grade edible corn starch at the beginning of the week was 3,172.00 RMB/ton, and the average price over the weekend was 3,176.00 RMB/ton, a slight increase of 0.13%.
Analysis review
In late May, the price of domestic corn market rose slightly as a whole, and the cost of raw materials rose slightly. At the same time, supported by the strong willingness of manufacturers to raise prices due to the overall low profit of starch processing, the price of domestic corn starch market rose slightly with the price of corn this week.
Market outlook
The analysts of corn starch products from SunSirs believe that there was limited room for the recovery of raw material costs, the overall procurement of starch downstream was cautious, and long and short gamed in the market. In the short term, the domestic corn starch market price will continue to follow the slight fluctuations of corn prices.
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