According to the Commodity Market Analysis System of SunSirs, the domestic corn starch price continued to decline weakly in April 2024. On April 1st, the average price of edible grade one corn starch was 3,128.00 RMB/ton, and on April 30th, it was 3,042.00 RMB/ton, a decrease of 2.75% within the month.

In April, due to the continuous loose supply and suppression of the domestic corn market, the domestic corn market prices continued to decline weakly. The upstream raw material costs continued to decline within the month. In addition, the downstream demand for corn starch in China was not strong during the peak season, and the accumulation of inventory increased. Downstream starch procurement was more cautious, and under the dual pressure of cost and demand, the domestic corn starch market prices continued to be under pressure and weakened downward in April.

The corn starch product analyst from SunSirs believes that in the short term, the loose supply situation in the domestic corn market is difficult to alleviate, and the domestic corn market prices will continue to be under pressure, with a stable and weak operation. Under the dual pressure of cost and demand, it is expected that the domestic corn starch market prices will continue to follow the weak operation of domestic corn prices in May.

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