SunSirs: The Price of China Domestic Corn Starch was relatively Strong In November
December 06 2022 09:51:39 SunSirs (Selena)
According to the monitoring of SunSirs, the price of domestic corn starch in November was relatively strong. On November 1, the average price of edible first-class corn starch was 3,232.00 RMB/ton, and on November 30, the average price was 3,352.00 RMB/ton, up 3.71% in the month.
In November, the cost of imported corn continued to be high. In addition, affected by the epidemic situation and rainfall in some regions, the quantity of corn delivered by deep-processing manufacturers declined. To stimulate the arrival of goods, some enterprises raised the purchase price of corn slightly, driving the domestic corn market price to continue to operate strongly. Supported by the cost of raw materials, the domestic corn starch market price rose slightly.
Pressed by the continuous downturn of domestic corn starch terminal demand, the continuous rise of domestic corn price has limited effect on the price rise of domestic corn starch market. Downstream trade entities have a strong wait-and-see attitude and are cautious in overall procurement. The domestic corn starch market price has been stable in the middle of November. In late November, the domestic corn price continued to rise, and the market price of corn starch rose slightly.
The analysts of corn starch products from SunSirs believe that: the market is long and short. Under the support of cost in the short term, the domestic corn starch market price still has some room for recovery. The overall China domestic corn starch market price continued to rise in December due to the continued weakness of terminal demand.
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