SunSirs: Demand Support, China Domestic DDGS steadily Rising
May 23 2024 16:06:24 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, after May Day, the domestic DDGS market has rebounded and steadily increased. On May 1st, the average market price of domestic DDGS was 2,100 RMB/ton. On May 21st, the average market price of domestic DDGS was 2,190 RMB/ton, an increase of 4.29%.
After the May Day holiday, the rigid demand for terminal aquaculture has increased, DDGS market transactions have improved. The overall DDGS quotation of the alcohol factory has increased. Among them, the overall price of DDGS in Henan region is 2,150 RMB/ton, with a price increase of 50 RMB/ton; The mainstream quotation for DDGS in Heilongjiang region is 2,100 RMB/ton, with a price increase of 50 RMB/ton; The average market price of domestically produced DDGS in Jilin region is 2,200 RMB/ton, an increase of 30 RMB/ton.
In the middle of the month, terminal demand improved, and the market for substitute soybean meal remained high, supported by bullish sentiment. The domestic DDGS market continued to rise. The domestic DDGS quotation in Henan region is 2,150 RMB/ton, unchanged. The average market price of domestically produced DDGS in Jilin region is 2,270 RMB/ton, an increase of 70 RMB/ton, with a market increase of over 4% compared to the beginning of the month.
Agricultural product analysts from SunSirs believe that at the end of May, the terminal demand for aquatic feed weakened, and the domestic DDGS market weakened in the future.
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