SunSirs: Negative News, China Domestic DDGS Market Weakens
April 24 2024 16:09:06 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, after the Qingming Festival, bearish sentiment was suppressed, and the domestic DDGS market continued to decline weakly. On April 8th, the average market price of domestic DDGS was 2,187 RMB/ton. On April 22nd, the average market price of domestic DDGS was 2,112 RMB/ton, a decrease of 3.43%.
After the Qingming Festival, the operating rate of domestic alcohol factories increased, and the supply of domestic DDGS rebounded, resulting in loose supply. The procurement of terminal feed factories is cautious, with average demand. The market for substitute soybean meal continues to decline, and the boosting effect is limited. The raw material corn market continues to decline weakly, with multiple bearish factors weighing down. The domestic DDGS market has been continuously falling, with prices falling to the front line of 2,100 RMB/ton. As of April 22, the average market price of domestically produced DDGS has dropped to 2,112 RMB/ton, a decrease of over 3% compared to April 8.
Agricultural product analysts from SunSirs believe that as May enters, the demand for terminal aquatic feed will increase, and the domestic DDGS market may stop falling and rise.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
