Situation and Analysis of Guangxi Cassava Starch Spot Market (1.13)

Last week (January 5-11), in terms of domestic flour, the domestic cassava starch market maintained a fluctuating downward trend due to the continuous decline in cassava raw material prices, the fluctuation of imported flour prices, and the continuous increase in domestic new flour inventory. The average price closed at a moderate decline, while the trading volume continued to decrease. According to the market sampling survey and data from the "Starch World" website, last week, the domestic powder prices (ex factory price, including tax) in Guangxi were: 3230-3330 yuan/ton for low-end products (a decrease of 50 yuan/ton compared to the previous week, with a discussion space of 30 yuan/ton between the quotation and actual transactions), 3330-3430 yuan/ton for ordinary products (a decrease of 50 yuan/ton compared to the previous week, with a discussion space of about 30 yuan/ton between the quotation and actual transactions), and 3480-3580 yuan/ton for high-quality products (a decrease of 50 yuan/ton compared to the previous week, with a discussion space of about 30 yuan/ton between the quotation and actual transactions); In terms of Pingxiang Zhengmao, due to the continuous appreciation of the US dollar, increased stocking by domestic merchants, and increased clearance volume of other goods before the holiday, the clearance volume of cassava starch in Pingxiang Zhengmao has continued to decline, while the price on a weekly basis remains flat. According to the market sampling survey and data from the "Starch World" website, last week, the clearance volume of Vietnamese starch for Guangxi Pingxiang Zhengmao was 800-900 tons/day (-500). The weekend Pingxiang quotation (vehicle board, including tax) was 2980-3080 yuan/ton (-0 yuan/ton) for low-end products, 3080-3180 yuan/ton (-0 yuan/ton) for ordinary products, and 3180-3280 yuan/ton (-0 yuan/ton) for high-quality products.

This week (January 12-18), it is predicted that the US dollar against the Chinese yuan exchange rate will remain strong, foreign raw material and starch quotations will rebound, Vietnamese starch factories will face financial constraints at the end of the year, and domestic businesses will stock up before the holiday. We believe that the overall market situation of cassava starch in Guangxi will show a moderate rebound after hitting bottom this week. Among them, the prices of domestic flour and Pingxiang's imported flour will close slightly higher, while the clearance volume of cassava starch in Guangxi's regular trade will continue to decline.

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