SunSirs: Supported by Positive Factors, China Domestic DDGS Market Continues to Rise
March 21 2024 14:53:59 SunSirs (Selena)
According to the commodity market analysis system of SunSirs, starting from March, with the support of bullish sentiment, the domestic DDGS market is gradually rising. On March 1st, the average market price of domestic DDGS was 1,927 RMB/ton. On March 20th, the average market price of domestic DDGS was 2,192 RMB/ton, an increase of 13.75%.
In early March, the domestic DDGS market saw an improvement, with prices rising one after another., 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, 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.
In the third week, terminal demand remained positive, and the soybean meal market continued to rise. Alcohol factories raised prices, and the DDGS market rose one after another. The average market price rose to 2,192 RMB/ton, an increase of over 13%.
Agricultural product analysts from SunSirs believe that in April, the demand for aquatic feed increased, and the domestic DDGS market still has an upward trend in the future.
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