China’s Soybean Crush Weekly (Week 24, 2018)

2018-06-19 www.cofeed.com

National soybean crush this week comes into at 1,719,600 tonnes (1,358,484 tonnes of soybean meal, 326,724 tonnes of soybean oil) owing to further lifted operation rate this week (June 9th-15th), up 68,250 tonnes by 4.13% vis-a-vis 1,651,350 tonnes last week. Meantime, soybean processing capacity utilization rises to 49.78%, 1.98 percentage points higher than 47.80% last week. Total soybean crush in week 25 next week, according to Cofeed, will probably climb to 1.80 Mln tonnes and 1.89 Mln tonnes in week 26 based on improved operation rate.

Based on current soybean processing capacity, June soybean crush nationwide is forecast to be 7.6 Mln tonnes, higher than 7.05 Mln tonnes last month and a tad higher than 7.56 Mln tonnes year on year.

Soybean crush in year 2017/2018 (as from 1 October 2017) now totals 62,070,120 tonnes, up 1,284,743 tonnes by 2.11% from 60,785,377 tonnes attained in year 2016/17. National soybean crush in calendar year 2018 (as from 1 January 2018) has accumulated to 37,734,500 tonnes, still down 350,079 tonnes by 0.91% as compared to 38,084,579 tonnes year on year.

Details for weekly crush are shown as follows:

No	Area	Soybean Crush (mT)			Operation Rate (Capacity Utilization)
		Week 24	Week 23	Variation	Week 24	Week 23	Variation
1	Jiangsu	391,000	373,000	18,000	65.18%	62.18%	3.00%
2	Shandong	218,600	140,800	77,800	36.50%	23.51%	12.99%
3	Guangxi	208,600	148,600	60,000	66.97%	47.70%	19.26%
4	Guangdong	162,700	214,200	-51,500	40.28%	53.03%	-12.75%
5	Tianjin	126,700	144,200	-17,500	84.19%	95.81%	-11.63%
6	Fujian	120,000	126,000	-6,000	70.84%	74.38%	-3.54%
7	Hebei	104,800	112,400	-7,600	57.58%	61.76%	-4.18%
8	Liaoning	83,500	97,500	-14,000	37.10%	43.32%	-6.22%
9	Henan	51,200	49,550	1,650	42.52%	41.15%	1.37%
10	Hubei	49,000	49,000	0	100.00%	100.00%	0.00%
11	Jilin	43,400	27,400	16,000	56.36%	35.58%	20.78%
12	Zhejiang	38,500	52,500	-14,000	33.13%	45.18%	-12.05%
13	Sichuan	29,400	23,400	6,000	70.00%	55.71%	14.29%
14	Shaanxi	22,400	23,600	-1,200	72.73%	76.62%	-3.90%
15	Shanghai	15,000	0	15,000	57.92%	0.00%	57.92%
16	Heilongjiang	12,600	12,600	0	7.50%	7.50%	0.00%
17	Chongqing	12,000	7,200	4,800	57.14%	34.29%	22.86%
18	Anhui	11,900	15,400	-3,500	73.91%	95.65%	-21.74%
19	Jiangxi	7,000	7,000	0	58.82%	58.82%	0.00%
20	Xinjiang	4,200	4,200	0	75.00%	75.00%	0.00%
21	Hunan	3,600	15,800	-12,200	18.37%	80.61%	-62.24%
22	Inner Mongolia	3,500	7,000	-3,500	29.41%	58.82%	-29.41%
23	Shanxi	0	0	0	0.00%	0.00%	0.00%
	China Total	1,719,600	1,651,350	-68,250	49.78%	47.80%	1.98%

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

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