China's Soybean Crush Weekly (Week 1, 2018)
As operation rate falls significantly in China’s oil mills this week (Dec. 30th-Jan. 5th), national soybean crush now totals 1,683,750 tonnes (1,338,581 tonnes of soybean meal, 303,075 tonnes of soybean oil), decreasing by 14.12% from last week’s 1,960,650 tonnes, with a reduction of 276,900 tonnes. Meantime, crush capacity utilization is lessened to 49.30%, 8.11 percentage points lower than last week’s 57.41%. In general, operating rate is seen plunging sharply in terms of environmental inspections, short holidays for New Year’s Day and bloated soybean meal in some oil mills. Yet, soybean weekly crush may rise to 1.85 Mln tonnes provided that the rate is to be lifted in the next two weeks after January 5th.
Soybean crush in year 2017/2018 (as of 1 October 2017) has amounted to 25,553,370 tonnes, 7.18% or 1,713,615 tonnes higher than the figure attained in year 2016/17 of 23,839,755 tonnes. While soybean crush in civil year 2018 (as of January 1, 2018) has totaled 1,212,850 tonnes, a reduction of 187,316 tonnes, or 13.37% from the 1,400,166 tonnes for the same period in 2017.
Figure: Trends of Soybean Weekly Crush in China (2010-2018)
