In May, the average price for cassava starch is CNY 4,043/MT (USD 605.75/MT), which has increased by CNY 156/MT (USD 23.37/MT) MoM, +4.01% compared with the price in April.
The reason is, firstly, the deprecation of CNY against USD dollars. The increasing sourcing cost causes a rise in stock sale price. The selling price range for major Thailand brands is CNY 4,050-4,250/MT (USD 606.80-636.76/MT); The selling price range for major Vietnam brands is CNY 3,820-4,100/MT (USD 572.34-614.29/MT).
Secondly, tight supply from Thailand and Vietnam. Some cassava starch factories in Thailand and Vietnam are not fully operated. The production capacity is tight.
From the demand side, the acceptance for the price is low and the buyers are not optimistic about the high price. Some factories are using maize starch as a substitute. The price is expected to keep strong in May and June. It is suggested to keep following with end users’ demand and freight rates.
The reason is, firstly, the deprecation of CNY against USD dollars. The increasing sourcing cost causes a rise in stock sale price. The selling price range for major Thailand brands is CNY 4,050-4,250/MT (USD 606.80-636.76/MT); The selling price range for major Vietnam brands is CNY 3,820-4,100/MT (USD 572.34-614.29/MT).
Secondly, tight supply from Thailand and Vietnam. Some cassava starch factories in Thailand and Vietnam are not fully operated. The production capacity is tight.
From the demand side, the acceptance for the price is low and the buyers are not optimistic about the high price. Some factories are using maize starch as a substitute. The price is expected to keep strong in May and June. It is suggested to keep following with end users’ demand and freight rates.
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