SunSirs: China Domestic Corn Starch Prices Rose slightly in October
November 03 2022 09:15:19 SunSirs (Selena)
According to the monitoring of SunSirs, the price of domestic corn starch rose slightly in October. On October 1, the average price of edible first-class corn starch was 3,172.00 RMB/ ton, and on October 31, the average price was 3,232.00 RMB/ ton, up 1.89% in the month.
In October, the market price of domestic corn in the new season was high as a whole, and the price of raw materials was stable and strong. Affected by the overall high domestic corn starch inventory and the continued weakness of downstream demand for starch, the rising cost did not support the price of domestic corn starch market. Under the suppression of strong supply and weak demand in the starch market, the price of domestic corn starch market was stable as a whole.
From the middle of October, supported by the continuous high price of corn, and the small decline of domestic corn starch inventory, the price of corn starch market in some regions rose slightly under the effect of cost transmission, driving the overall price of domestic corn starch market to run slightly stronger.
According to SunSirs analysts of corn starch products, the growers are reluctant to sell at a high price, the domestic corn price continues to fluctuate at a high level, the price of imported corn continues to rise, and supported by the rising cost of raw materials, it is expected that China domestic corn starch market price in November will still have some space to rise.
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