SunSirs: China Domestic Corn Starch Prices were Weak in September
October 08 2023 13:45:44 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, the overall price of domestic corn starch was weak in September. On September 1st, the average price of edible first-class corn starch was 3,434.00 RMB/ton, and on September 28th, the average price was 3,374.00 RMB/ton, a decrease of 1.75% during the month.
Since September, the domestic corn market prices remained stable and advanced, with high raw material costs operating. The profit margin for corn starch processing is still available, and downstream demand for starch is relatively stable. The overall price of corn starch market remained stable and advanced.
In mid September, the domestic corn market prices rose and fell, and under the low-pressure system of raw material costs, enterprises successively lowered the factory price of starch, driving a small decline in the domestic corn starch market prices. With the sporadic entry of corn in the northeast production area at the end of the month, coupled with ample expectations for a high yield of new season corn, the domestic corn market prices continue to be weak and downward, and the domestic corn starch market prices are under pressure and downward.
Analysts from SunSirs's corn starch products believe that under the pressure of many bearish conditions, the domestic corn market prices will continue to decline weakly, and costs will remain low. It is expected that the domestic corn starch market prices will continue to follow the stable and weak trend of corn market prices in October.
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