SunSirs: China Domestic DDGS Market Continuously Rises in July
July 31 2023 09:41:37 SunSirs (Selena)
According to monitoring data from SunSirs, the domestic DDGS market continued to rise in July, with an increase of over 12%. At the beginning of the month, the average market price of domestic DDGS was 2,526 RMB/ton. On July 26th, the average market price of domestic DDGS was 2,837 RMB/ton, an increase of 12.3% compared to the beginning of the month.
Starting from July, the demand for terminal aquaculture feed has rebounded, the operating rate of domestic alcohol factories has decreased, the market supply is tightening, and the domestic DDGS market is continuously rising. The overall quotation of the alcohol factory has increased, with an average market price of 2,800-2,850 RMB/ton, an increase of nearly 12%. After the middle of the month, driven by the rise in soybean meal prices, alcohol factories mainly raised prices, while the domestic DDGS market continued to operate at a high level. The mainstream market quotation was 2,850 RMB/ton, with an overall increase of over 12%.
SunSirs agricultural product analyst believes that the demand for terminal aquaculture feed has weakened, and the domestic DDGS market in August may mainly decline in a weak trend.
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