SunSirs: Cost Support, China Egg Prices was Rising
July 10 2023 14:23:13 SunSirs (Selena)
According to the monitoring of the Commodity Market Analysis System of SunSirs, the egg price was 8.10 RMB/kg at the beginning of this week, and 8.12 RMB/kg at the end of this week. The price increased by 0.25%, and the price decreased by 5.80% compared to the same period last year.
In terms of spot prices, there has been a significant increase in the prices of feed raw materials such as corn and soybean meal. The increase in breeding costs has supported the rise in spot prices of eggs. After the rainy season in late July, Guangdong's sales areas have gradually stepped out, making it easier to store eggs. Traders and food factories have a mentality of bottoming out, and there is a possibility of low restocking, resulting in a slight increase in spot prices.
As of July 2nd, the national egg production inventory was 1.25 days, a decrease of 0.04 days compared to the previous week and a year-on-year decrease of 0.21 days. The circulation inventory was 0.98 days, a decrease of 0.01 days compared to the previous week and a year-on-year increase of 0.04 days. Procurement in various stages is relatively cautious, while schools are gradually entering the holiday season, and the demand for group meals such as canteen food has weakened. The demand for tourism and catering has not yet increased significantly, and there is no significant increase in overall market consumption.
Cost support, but market transactions have not been released yet, and it is expected that egg prices will mainly fluctuate and weaken in the short term.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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