China’s Soybean Crush Weekly (Week 27, 2018)

2018-07-09 www.cofeed.com

Slow consumption of soybean meal resulting from sluggish pigs raising has put considerable pressure on some meal-bloated mills, especially mills in Shandong and Jiangsu, whilst pork consumption is also seen downsized as weather gets hot. To ease such pressure, some mills lower down the operation rate either by operation limits or machine halt. Therefore national soybean crush this week (June 30th- July 6th) come into at 1,824,500 tonnes (1,441,355 tonnes of soybean meal, 346,655 tonnes of soybean oil) , down 86,350 tonnes by 4.51% from 1,910,850 tonnes last week. Meantime, soybean processing rate (capacity utilization) also drops to 52.82%, 2.49 percentage points lower than 55.31% last week. Total soybean crush in week 28 next week, according to Cofeed, will probably be down to 1.76 Mln tonnes or so and 1.87 Mln tonnes in week 29 if operation rate further declines.

Soybean crush in year 2017/2018 (as from 1 October 2017) now amounts to 67,597,470 tonnes, up 1,578,293 tonnes by 2.29% vis-a-vis 66,019,177 tonnes attained in year 2016/17. National soybean crush in calendar year 2018 (as from 1 January 2018) has totaled 43,261,850 tonnes, still 0.13% or 56,529 tonnes below 43,318,379 tonnes year on year.

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

Details for weekly crush are shown as follows:

No	Area	Soybean Crush (mT)			Operation Rate (Capacity Utilization)
		Week 27	Week 26	Variation	Week 27	Week 26	Variation
1	Jiangsu	331,500	409,000	-77,500	55.26%	68.18%	-12.92%
2	Shandong	298,400	334,300	-35,900	49.83%	55.82%	-5.99%
3	Guangdong	244,200	214,200	30,000	60.46%	53.03%	7.43%
4	Guangxi	200,600	169,600	31,000	64.40%	54.45%	9.95%
5	Tianjin	142,100	108,100	34,000	94.42%	71.83%	22.59%
6	Fujian	123,600	126,000	-2,400	72.96%	74.38%	-1.42%
7	Liaoning	115,500	120,900	-5,400	51.32%	53.72%	-2.40%
8	Hebei	103,500	129,400	-25,900	56.87%	71.10%	-14.23%
9	Henan	55,400	68,150	-12,750	46.01%	56.60%	-10.59%
10	Hubei	49,000	47,000	2,000	100.00%	95.92%	4.08%
11	Zhejiang	39,400	46,900	-7,500	33.91%	40.36%	-6.45%
12	Sichuan	31,500	31,500	0	75.00%	75.00%	0.00%
13	Shaanxi	30,800	30,800	0	100.00%	100.00%	0.00%
14	Chongqing	16,800	16,800	0	80.00%	80.00%	0.00%
15	Jilin	10,000	12,000	-2,000	12.99%	15.58%	-2.60%
16	Anhui	8,400	8,400	0	52.17%	52.17%	0.00%
17	Jiangxi	7,000	7,000	0	58.82%	58.82%	0.00%
18	Heilongjiang	5,600	5,600	0	3.33%	3.33%	0.00%
19	Hunan	5,000	0	5,000	25.51%	0.00%	25.51%
20	Xinjiang	4,200	4,200	0	75.00%	75.00%	0.00%
21	Inner Mongolia	2,000	3,500	-1,500	16.81%	29.41%	-12.61%
22	Shanghai	0	17,500	-17,500	0.00%	67.57%	-67.57%
23	Shanxi	0	0	0	0.00%	0.00%	0.00%
	China Total	1,824,500	1,910,850	-86,350	52.82%	55.31%	-2.50%

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