SunSirs: China Corn Starch Prices were Weak Last Week (March 18-22)
March 26 2024 14:48:11 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, the domestic corn starch price was weak last week. The average price of first grade corn starch consumed at the beginning of the week was 3,180.00 RMB/ton, and the average price over the weekend was 3,152.00 RMB/ton.
Entering mid March, the domestic corn market supply continued to increase, causing corn prices to fall under pressure and raw material costs to continue to decline weakly. In addition, downstream demand for starch was lower than expected, resulting in a weak domestic corn starch market structure under pressure.
The corn starch product analyst of SunSirs believes that the raw material cost remains low, and downstream trading entities are cautious in purchasing. In the short term, the domestic corn starch market price will rebound under pressure and will continue to follow the pressure of the domestic corn market price.
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