SunSirs: China Domestic DDGS Market Decline in October
October 30 2023 14:58:32 SunSirs (Selena)
According to monitoring data from SunSirs, the domestic DDGS market in October experienced a fluctuating decline, with a drop of over 14%. At the beginning of the month, the average market price of domestic DDGS was 2,785 RMB/ton. On October 27th, the average market price of domestic DDGS was 2,392 RMB/ton, with a price drop of 14.09%.
After the 11th anniversary, terminal aquaculture entered the off-season, with a decline in demand for DDGS. Coupled with the decline in the market for raw corn, domestic DDGS quotations from domestic alcohol factories have significantly declined, resulting in loose market supply and a continuous decline in the DDGS market. As of October 18th, the average market price of domestic DDGS is around 2,405 RMB/ton, and the price has decreased by about 300 RMB/ton.
In mid to late October, it was the off-season for consumption, with bearish sentiment leading the way. After the domestic DDGS market fell, it entered a consolidation period, with prices continuing to be around 2,400 RMB/ton. The market remained relatively stable, and there was little change in alcohol factory quotations.
SunSirs agricultural product analyst at SunSirs, believes that in November, there is still little room for growth in the domestic DDGS market, with weak performance being the main focus.
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