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China’s Soybean Crush Weekly (Week 21, 2018)

2018-05-29 www.cofeed.com
   According to Chinese government, mills away from Qingdao within 200 kilometers are required to close down from May 30th to June 11th due to the upcoming summit for Shanghai Cooperation Organization in Qingdao on June 9th-11th. At the news, mills in Qingdao, Longkou and Rizhao, Shangdong province have recently increased processing capacity in full swing to ensure an ample supply of oils and meals later. Such being the case, operation rate recovers this week dated from May 19th to 25th, therefore national soybean crush this week comes into at 1,650,450 tonnes (1,303,855 tonnes of soybean meal, 313,585 tonnes of soybean oil), up 68,000 tonnes by 4.29% vis-a-vis 1,582,450 tonnes last week. Meantime, soybean processing capacity utilization further rises to 47.78%, 1.97 percentage points higher than 45.81% last week. Total soybean crush in week 22 nationwide, according to Cofeed, will be fractionally down to 1.63 Mln tonnes when part of Shandong mills are to suspend operation since late May, and further down to 1.55 Mln tonnes in week 23, the week after next. 

    Based on current soybean processing capacity, May soybean crush nationwide is forecast to be 7.05 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 57,070,070 tonnes, 2.71% or 1,505,393 tonnes higher than 55,564,677 tonnes attained in year 2016/17. While national soybean crush in calendar year 2018 (as from 1 January 2018) has decreased to 32,734,450 tonnes, down 129,429 tonnes by 0.39% as compared to 32,863,879 tonnes year on year.

Details for weekly crush are shown as follows:

No.

Area

Soybean Crush

mT

Operation Rate

(Capacity Utilization)

 

 

Week 21

Week 20

Variation

Week 21

Week 20

Variation

1

Jiangsu

351,500

367,500

-16,000

58.59%

61.26%

-2.67%

2

Shandong

341,900

298,700

43,200

57.09%

49.88%

7.21%

3

Guangdong

200,200

185,200

15,000

49.57%

45.85%

3.71%

4

Guangxi

181,600

120,900

60,700

58.30%

38.81%

19.49%

5

Hebei

122,400

122,400

0

67.25%

67.25%

0.00%

6

Liaoning

92,800

77,000

15,800

41.24%

34.21%

7.02%

7

Fujian

83,500

105,700

-22,200

49.29%

62.40%

-13.11%

8

Tianjin

56,000

68,000

-12,000

37.21%

45.18%

-7.97%

9

Hubei

46,000

42,000

4,000

93.88%

85.71%

8.16%

10

Zhejiang

35,000

43,800

-8,800

30.12%

37.69%

-7.57%

11

Sichuan

27,900

35,400

-7,500

66.43%

84.29%

-17.86%

12

Henan

25,150

14,750

10,400

20.89%

12.25%

8.64%

13

Heilongjiang

19,600

15,600

4,000

11.67%

9.29%

2.38%

14

Shanghai

17,500

17,500

0

67.57%

67.57%

0.00%

15

Anhui

15,400

15,400

0

95.65%

95.65%

0.00%

16

Chongqing

12,000

0

12,000

57.14%

0.00%

57.14%

17

Hunan

10,600

7,000

3,600

54.08%

35.71%

18.37%

18

Jiangxi

7,000

7,000

0

58.82%

58.82%

0.00%

19

Jilin

4,400

12,000

-7,600

5.71%

15.58%

-9.87%

20

Shaanxi

0

24,800

-24,800

0.00%

80.52%

-80.52%

21

Shanxi

0

0

0

0.00%

0.00%

0.00%

22

Inner Mongolia

0

0

0

0.00%

0.00%

0.00%

23

Xinjiang

0

1,800

-1,800

0.00%

32.14%

-32.14%

 

China total

1,650,450

1,582,450

-68,000

47.78%

45.81%

1.97%


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