SunSirs: China Domestic DDGS Market Oscillates and Rises in August
September 01 2023 14:39:14 SunSirs (Selena)
According to monitoring data from SunSirs, in August, the domestic DDGS market oscillated and rose by over 6%. At the beginning of the month, the average market price of domestic DDGS was 2,875 RMB/ton. On August 29th, the average market price of domestic DDGS was 3,075 RMB/ton, an increase of 6.96%.
Since the beginning of this month, the demand for terminal aquaculture has weakened, and domestic alcohol factories have insufficient confidence in pricing. The market supply is loose, and the DDGS market has continued to decline. The overall quotation of the alcohol factory has decreased, with an average market price of around 2,850 RMB/ton, indicating weak operation.
Starting from the middle of the year, the rigid demand for terminal feed has supported the market for substitute soybean meal, with domestic alcohol factories mainly increasing prices. The DDGS market continues to rise. The overall quotation of the alcohol factory has risen, with an average market price of around 2,900 RMB/ton, and an overall increase of 50 RMB/ton.
At the end of the month, alcohol factories continued to raise prices, and the domestic DDGS market broke through the 3,000 RMB mark, with an average market price of 3,075 RMB/ton, an increase of 6.96% compared to the beginning of the month.
SunSirs agricultural product analyst believes that with the support of terminal rigid feed demand, the domestic DDGS market may continue to rise in September.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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