SunSirs: China Domestic Corn Starch Prices continued to rise in June
July 05 2023 09:48:55 SunSirs (Selena)
According to the commodity market analysis system of SunSirs, the price of domestic Corn starch continued to rise in June. On June 1, the average price of edible primary Corn starch was 3,180.00 RMB/ton, and on June 30, the average price was 3,314.00 RMB/ton, up 4.21% in the month.
In June, farmers' grain sales basically stopped, and most of the trade subjects turned their attention to the new wheat trade. The number of high-quality grain sources that can be circulated at the grass-roots level of domestic corn was gradually decreasing, and the price supporting mentality of the grain storage trade subjects became stronger. The price increase and replenishment of deep processing enterprises led to a slightly stronger operation of the domestic corn market price, supported by factors such as the recovery of raw material costs, the continuous loss of starch processing profits, and the continuous low Corn starch inventory, The overall price of domestic Corn starch market is strong.
In the middle and late June, with the temperature gradually rising, the downstream demand for starch increased slightly, and the domestic corn market price continued to rise, supported by the rising cost of raw materials, the domestic Corn starch market price continued to run strong.
SunSirs analysts of Corn starch products believe that the domestic Corn starch market price is expected to continue to run strongly in July, supported by the double positive effects of rising costs and rising demand.
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