SunSirs: China Domestic DDGS Market Saw a Significant Decline in December
December 27 2023 15:17:10 SunSirs (Selena)
According to monitoring data from SunSirs, the domestic DDGS market experienced a significant decline in December, with a decline of nearly 10%. At the beginning of the month, the average market price of domestic DDGS was 2,377 RMB/ton. On December 26th, the average market price of domestic DDGS was 2,150 RMB/ton, with a price drop of 9.57%.
Since December, the demand for terminal feed has been flat, the market for substitute soybean meal has declined, the market for raw material corn has been poor, and multiple bearish factors have suppressed. Alcohol factories lack confidence in price support and have lowered the factory prices of domestic DDGS, with the domestic DDGS market continuing to decline. The average market price has dropped to 2,100 RMB/ton, a decrease of nearly 10% compared to the beginning of the month.
SunSirs agricultural product analyst believes that after New Year's Day, the demand for terminal feed will still weaken, and the domestic DDGS market will continue to decline weakly in the future.
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