SunSirs: China Corn Starch Price was Weak Last Week (September 12-16)
September 21 2022 09:29:46 SunSirs (Selena)
According to the monitoring of SunSirs, the price of domestic corn starch continued to be weak last week. The average price of first-class corn starch for consumption at the beginning of the week was 3,206.00 RMB/ ton, and the average price at the weekend was 3,186.00 RMB/ ton, down 0.61% within the week.
In the middle of September, the new season corn in the production area will enter the market soon, and the deep processing enterprises have relatively sufficient corn stocks as a whole, the starch downstream trade subjects have a strong wait-and-see attitude, and the purchase and sales of starch market are relatively light. In order to ensure that some enterprises shipping starch continue to reduce the factory price of starch, and drive the domestic corn starch market price to continue to operate weakly as a whole.
SunSirs corn starch products analysts believe that: the starch processing manufacturers have relatively sufficient corn stocks, and the downstream trade entities have a strong wait-and-see attitude. In addition, the new season corn is about to enter the market. The slightly higher corn price in the port area has limited support for the overall price of the domestic corn starch market. The domestic downstream demand for corn starch is still weak, and China domestic corn starch market price will continue to be under pressure and adjusted weakly in the short term.
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