Analysis of China's aproducts supply and demand situation in February 2024

Published Feb 18, 2024

Tridge summary

China's supply and demand forecasts for corn, soybean, cotton, edible vegetable oil, and sugar for 2023/24 remain unchanged from last month. Despite low corn prices, consumption is predicted to grow steadily. The soybean market is stable due to a global oversupply. Cotton imports and ending stocks have increased slightly from the previous year. The consumption forecast for edible vegetable oil has been raised due to a stronger than expected recovery in catering consumption. While the sugar supply and demand forecast remains unchanged, international sugar prices have seen a sharp increase due to production concerns in Brazil, India, and Thailand.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Corn: This month’s forecast for China’s corn supply and demand situation in 2023/24 remains consistent with last month. Domestic corn prices continue to run at low levels, deep processing enterprises’ profits have improved, and operating rates have remained high; as pig production capacity gradually returns to a reasonable level, pig production in the second quarter The market situation is expected to be better than the same period last year, which will lead to better corn feed consumption expectations. Corn consumption demand is expected to grow steadily after the year. The global corn supply and demand situation is loose, and prices have fluctuated lower. This month, the 2023/24 imported corn will be imported after CIF tax. The average price forecast is reduced by 250 yuan per ton to 2150-2350 yuan. Soybeans: This month’s forecast of China’s soybean supply and demand situation in 2023/24 remains consistent with last month. Domestically, as the Lunar New Year approaches, ...

Source: Foodmate