SunSirs: Dowmstream Demand Turns Weak, China Domestic DDGS Market Declines
September 20 2023 14:06:05 SunSirs (Selena)
According to monitoring data from SunSirs, since September 1st, the domestic DDGS market has returned, with prices continuously falling, with an overall decline of nearly 8%. On September 1st, the average market price of domestic DDGS was 3,075 RMB/ton. On September 19th, the average market price of domestic DDGS was 2,837 RMB/ton, a decrease of 7.72%.
After September, the off-season for terminal aquaculture consumption has arrived, and the demand for DDGS has weakened. In addition, the market for raw corn has declined, and domestic alcohol factories have lowered the price of domestic DDGS. As a result, the market supply exceeds demand, and the DDGS market continues to decline. The overall quotation of the alcohol factory has decreased, with an average market price of around 2,800 RMB/ton and a price drop of around 150 RMB/ton.
SunSirs agricultural product analyst believes that terminal demand is flat, and bearish sentiment is weighing down. In the future, the domestic DDGS market will have a weak rise.
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