China’s Soybean Crush Weekly (Week 34, 2018)

2018-08-28 www.cofeed.com

The operation rate is a tad lower this week (Aug. 18th- 24th) as some mills are under machine overhaul. Consequently, national soybean crush is shrunk to 1,915,700 tonnes (1,513,403 tonnes of soybean meal, 363,983 tonnes of soybean oil), down 36,092 tonnes or 1.84% from 1,951,792 tonnes last week. Meantime, soybean processing rate (capacity utilization) also falls to 54.84% from 55.88% on the week, about 1.04 percentage points lower. Total soybean crush, according to Cofeed, will probably settle at 1.88 Mln tonnes in week 35 next week and at 1.9 Mln tonnes in week 36 in the events that more and more mills are under machine overhaul near the end of August with lowered operation rate.

Soybean crush in year 2017/2018 (as from 1 October 2017) now total 80,202,462 tonnes, a rise of 1,460,085 tonnes or 1.85% as compared to 78,742,377 tonnes in year 2016/17. National soybean crush in calendar year 2018 (as from 1 January 2018) has totaled 55,596,842 tonnes, still 444,737 tonnes or 0.79% lower than 56,041,579 tonnes on a year-on-year basis.

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 34	Week 33		Var.	Week 34	Week 33	Var.
1	Jiangsu	400,000		374,500	25,500	66.68%	62.43%	4.25%
2	Shandong	335,400		380,400	-45,000	56.01%	63.52%	-7.51%
3	Guangdong	212,100		256,100	-44,000	52.51%	63.41%	-10.89%
4	Gunagxi	197,400		205,400	-8,000	63.37%	65.94%	-2.57%
5	Hebei	150,500		130,926	19,574	82.69%	71.94%	10.75%
6	Liaoning	124,000		109,000	15,000	47.68%	41.92%	5.77%
7	Tianjin	122,500		76,066	46,434	81.40%	50.54%	30.85%
8	Fujian	105,500		103,200	2,300	62.28%	60.92%	1.36%
9	Henan	52,000		52,200	-200	43.19%	43.36%	-0.17%
10	Hubei	42,500		52,500	-10,000	80.95%	100.00%	-19.05%
11	Zhejiang	39,000		50,200	-11,200	33.56%	43.20%	-9.64%
12	Shaanxi	30,800		30,800	0	100.00%	100.00%	0.00%
13	Jilin	28,000		28,000	0	36.36%	36.36%	0.00%
14	Sichuan	26,300		37,100	-10,800	62.62%	88.33%	-25.71%
15	Anhui	16,800		15,600	1,200	104.35%	96.89%	7.45%
16	Hunan	11,800		14,200	-2,400	60.20%	72.45%	-12.24%
17	Heilongjiang	10,600		12,600	-2,000	6.31%	7.50%	-1.19%
18	Jiangxi	7,000		7,000	0	58.82%	58.82%	0.00%
19	Inner Mongolia	3,500		3,500	0	29.41%	29.41%	0.00%
20	Shanghai	0		0	0	0.00%	0.00%	0.00%
21	Chongqing	0		12,500	-12,500	0.00%	59.52%	-59.52%
22	Shanxi	0		0	0	0.00%	0.00%	0.00%
23	Xinjiang	0		0	0	0.00%	0.00%	0.00%
	China Total	1,915,700		1,951,792	-36,092	54.84%	55.88%	-1.03%

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