玉米产品中国新闻

As China's catering industry rebounds, the ex-works price of MSG grew in Q1 2023.

Market Analysis

• China Starch announced its 2022 results on 22 March. There was a slight increase in revenue and a larger increase in profit.
• Huakang Pharma achieved its goal of revenue exceeding USD288.18 million (RMB2 billion) and profit increasing by more than 20% in 2022, despite the increasing uncertainties in the external environment caused by global macroeconomic downturns and geopolitical conflicts.
• On 3 March, Shandong Fuyang filed its IPO prospectus to the SSE again as the company had made some adjustments including the use of proceeds. The proceeds will be mainly used to finance its sodium gluconate project and allulose project.
• In 2022, Meihua Group recorded YoY growth in revenue, and the sales revenues of most of its products increased as the company reduced its production costs through technological improvement.

Company Dynamics

• On 8 March, the EI report of Chifeng Huaheng's 50,000 t/a of bio-based succinic acid and production base for raw materials of bio-based products project was made public.
• Land Biological and Shandong Xiaowei have proposed projects to upgrade/build succinic acid capacity in Shouguang City of Shandong, details of both disclosed in the month.
• On 7 March, the EI report of Tongliao Zhongyuan's starch-based sugar production line technology upgrading project was publicised.
• On 2 March, Aonong Group unveiled key statistics of its breeding business for Feb. 2023. Besides, it plans to raise funds for feed production projects, pig slaughtering and meat processing projects, etc.

Import and Export

• China's import volume and price of corn in Jan. registered an MoM increase. Imports of Brazilian corn rose significantly in particular.

The USD/CNY exchange rate in this newsletter is USD1.00=CNY6.9400 on 1 March, 2023, sourced from the People's Bank of China. All the prices mentioned in this newsletter will include the VAT, unless otherwise specified.