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China’s Soybean Crush Weekly (Week 20, 2018)

2018-05-22 www.cofeed.com
    Thanks to a half month of machine halt in some mills, soybean meal is seen eased in its stockpiles. As such, operation rate recovers this week dated from May 12th to 18th, correspondingly, national soybean crush this week comes into at 1,582,450 tonnes (1,250,135 tonnes of soybean meal, 300,665 tonnes of soybean oil), increasing by 7.92% or 116,200 tonnes vis-a-vis 1,466,250 tonnes last week. Meantime, soybean processing capacity utilization rises to 45.81%, 3.37 percentage points higher than 42.44% last week. Since the Summit for Shanghai Cooperation Organization is to be held in Qingdao in June, mills away from Qingdao within 200 kilometers are required to close down from May 30th to June 11th, according to a government notice. At the news, mills in Qingdao, Longkou and Rizhao, all located in Shangdong province have recently increased processing capacity in full swing to ensure an ample supply later. Such being the case, total soybean crush in week 21 nationwide, according to Cofeed, largely rise to 1.68 Mln tonnes, and even to 1.70 Mln tonnes in week 22, the week after next. 

    Based on current soybean processing capacity, May soybean crush nationwide is largely pegged at 7.10 Mln tonnes, a tad lower than 7.1792 Mln tonnes last month, and lower than 7.9191 Mln tonnes year on year. 

    Soybean crush in year 2017/2018 (as from 1 October 2017) has now totaled 55,419,620 tonnes, 3.11% or 1,673,043 tonnes higher than 53,746,577 tonnes attained in year 2016/17. While national soybean crush in calendar year 2018 (as from 1 January 2018) has increased to 31,084,000 tonnes, a growth of 0.12% or 38,221 tonnes as compared to 31,045,779 tonnes year on year.

    Details for weekly crush are shown as follows:

Area

Soybean Crush

(mT)

Operation Rate

(Capacity Utilization)

 

Week 20

Week 19

Variation

Week 20

Week 19

Variation

Jiangsu

367,500

318,500

49,000

61.26%

53.09%

8.17%

Shandong

298,700

246,400

52,300

49.88%

41.15%

8.73%

Guangdong

185,200

170,000

15,200

45.85%

42.09%

3.76%

Hebei

122,400

74,400

48,000

67.25%

40.88%

26.37%

Guangxi

120,900

152,100

-31,200

38.81%

48.83%

-10.02%

Fujian

105,700

92,800

12,900

62.40%

54.78%

7.62%

Liaoning

77,000

60,400

16,600

34.21%

26.84%

7.38%

Tianjin

68,000

83,000

-15,000

45.18%

55.15%

-9.97%

Zhejiang

43,800

55,400 

-11,600

37.69%

47.68%

-9.98%

Hubei

42,000

49,000

-7,000

85.71%

100.00%

-14.29%

Sichuan

35,400

26,400

9,000

84.29%

62.86%

21.43%

Shaanxi

24,800

30,800

-6,000

80.52%

100.00%

-19.48%

Shanghai

17,500

17,500

0

67.57%

67.57%

0.00%

Heilongjiang

15,600

12,600

3,000

9.29%

7.50%

1.79%

Anhui

15,400

15,400

0

95.65%

95.65%

0.00%

Henan

14,750

27,350

-12,600

12.25%

22.72%

-10.47%

Jilin

12,000

4,000

8,000

15.58%

5.19%

10.39%

Jiangxi

7,000

7,000

0

58.82%

58.82%

0.00%

Hunan

7,000

7,000

0

35.71%

35.71%

0.00%

Xinjiang

1,800

4,200

-2,400

32.14%

75.00%

-42.86%

Chongqing

0

12,000

-12,000

0.00%

57.14%

-57.14%

Shanxi

0

0

0

0.00%

0.00%

0.00%

Inner Mongolia

0

0

0

0.00%

0.00%

0.00%

Total

1,582,450

1,466,250

-116,200

45.81%

42.44%

3.36%



                     Figure: Trends of Soybean Weekly Crush in China (2014-2018)