SunSirs: China Domestic DDGS Market Rebounds in March
March 27 2024 15:22:19 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 25th, 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, 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. The average market price rose to 2,192 RMB/ton, an increase of over 13%.
At the end of the month, the domestic DDGS market gradually stabilized after a sharp rise, with prices continuing to be around 2,200 RMB/ton. Terminal demand remained stable, manufacturers raised prices, and the domestic DDGS market operated at a high level.
Agricultural product analysts from SunSirs believe that the demand for terminal aquatic feed is gradually improving, and there is still room for upward growth in the domestic DDGS market in the future.
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