China's Soybean Crush Weekly (Week 5, 2018)
Since operation rate is curtailed in China’s oil mills this week (Jan. 27th- Feb. 2nd), national soybean crush now amounts to 1,907,000 tonnes (1,516,065 tonnes of soybean meal, 343,260 tonnes of soybean oil), down 4.41% from last week’s 1,995,050 tonnes and 88,050 tonnes below last week. Meantime, soybean crush capacity utilization is dented to 55.84%, 2.58 percentage points lower than last week’s 58.42%. In general, holidays for staff in some oil mills in time of approaching Lunar New Year contribute to the lowered operating rate this week, moreover, the rate will be further lowered with weekly crush probably being around 1.87 Mln tonnes and 0.9 Mln tonnes in the following weeks, respectively.
Soybean crush in year 2017/2018 (as of 1 October 2017) has now amounted to 33,176,670 tonnes, 13.69% or 3,997,335 tonnes higher than 29,179,335 tonnes attained in year 2016/17. While soybean crush in civil year 2018 (as of January 1, 2018) has totaled 8,841,050 tonnes, a growth of 31.17% or 2,101,304 tonnes from 6,739,746 tonnes the same period in year 2017.
Figure: Trends of Soybean Weekly Crush in China (2010-2018)
