In 2024, Corn Gluten Feed (CGF) prices showed a generally downward trend across major global markets. In Asia, particularly in China, prices fell steadily during the first half of the year. High domestic stock levels and weaker import demand put pressure on the market, even though local production remained stable. Oversupply from major producing countries such as the U.S., Brazil, and Argentina added to the downward trend. In India, corn production remained largely unchanged, contributing little to market support.
European CGF markets experienced similar pressure. Imported corn faced high freight costs, while trade activity declined. Domestic production was sufficient to meet local demand, but downstream industries like animal feed and ethanol remained cautious, limiting price growth. In North America, U.S. Corn Gluten Feed prices declined as record corn harvests and large inventories weighed on the market. Farmers held significant stocks in anticipation of higher prices later, which limited immediate market movement. Export demand offered some support, but abundant supply and limited domestic consumption kept prices in check.