SunSirs: Weak Terminal Demand, China Domestic DDGS Fell in November
November 25 2022 10:18:38 SunSirs (Selena)
According to the monitoring data of SunSirs, since November, terminal demand has been sluggish, and the domestic DDGS market has fluctuated and declined. On November 1, the average market price of domestic DDGS was 3,275 RMB/ ton. On November 23, the average market price of domestic DDGS was 3,213 RMB/ ton, down 1.88%.
Since November, the rigid demand for terminal aquatic feed has weakened, the supply of substitute soybean meal has been tight, feed plants have been short of raw materials, and they have been shut down successively. The operating rate of alcohol plants has increased. The domestic DDGS quotation has declined weakly, and the market has declined. The mainstream quotation has dropped to the front line of 3,200 RMB/ ton.
After November 9, some alcohol plants were shut down for maintenance, and the market supply became tight. DDGS manufacturers were mainly price fixing. The domestic DDGS market continued to run at a high level, with the mainstream quotation of 3,200 RMB/ ton. The market of soybean meal, a substitute, remained high, supporting the domestic DDGS market.
Toward the end of the month, the profits were exhausted, and the manufacturers were not confident in the price. The domestic DDGS market continued to weaken, and the price fell to 3,200 RMB/ ton.
SunSirs agricultural product analyst believes that the terminal rigid demand is general, and China domestic DDGS market is still under pressure after the market rises.
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