SunSirs: Demand Support, China Domestic DDGS is Skyrocketing
March 13 2024 13:51:12 SunSirs (Selena)
According to the commodity market analysis system of SunSirs, starting from March, terminal demand has increased, and the domestic DDGS market has surged. On March 1st, the average market price of domestic DDGS was 1,927 RMB/ton. On March 12th, the average market price of domestic DDGS was 2,157 RMB/ton, an increase of 11.93%.
In early March, the domestic DDGS market saw an improvement, with prices rising. The demand for terminal feed has improved, the market for raw corn has remained strong, and the domestic DDGS market has seen an improvement. The average market price has risen to 1,900-2,000 RMB/ton, with a market increase of over 3%.
In the second week, with the support of terminal rigid demand, alcohol factories raised prices one after another, and the substitute soybean meal market rose, supported by multiple bullish factors. The domestic DDGS market surged, with the average market price rising to around 2,100 RMB/ton, an overall increase of nearly 12% compared to the beginning of the month.
Agricultural product analysts from SunSirs believe that by the end of March, there will still be rigid demand for terminal feed, and the domestic DDGS market will remain strong in the future.
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