SunSirs: China Domestic DDGS Market fluctuated and declined in June
June 29 2023 09:54:12 SunSirs (Selena)
According to monitoring data from SunSirs, the domestic DDGS market continued to decline weakly in June, with a decline of over 3.5%. At the beginning of the month, the average market price of domestic DDGS was 2,620 RMB/ton. On June 26th, the average market price of domestic DDGS was 2,726 RMB/ton, a decrease of 3.56% compared to the beginning of the month.
Since June, the weather has turned hot, and the demand for terminal aquatic feed has been poor. Manufacturers lack confidence in price support, and domestic DDGS prices have continued to weaken. The mainstream quotation has dropped to 2,400-2,500 RMB/ton, a decrease of about 100 RMB/ton.
In the middle of the month, the decline in domestic DDGS remained weak and narrowed, with the mainstream quotation still at 2,500 RMB/ton. DDGS overall remained weak and consolidated, with average market transactions and a sluggish market.
At the end of the month, due to hot weather, the operating rate of domestic alcohol factories decreased, market supply tightened, and terminal demand improved. The domestic DDGS market rebounded and prices increased. The overall quotation of the alcohol factory has increased, with an average market price of 2,600-2,700 RMB/ton, an increase of over 1.3%. Due to the significant decline in domestic DDGS in the early stage, domestic DDGS continued to decline weakly throughout June, with a decline of over 3%.
SunSirs agricultural product analyst believes that the rigid demand for terminal aquatic feed is not good, and domestic DDGS will still weaken in the future market in July.
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