This week (22nd-28th Sept), soybean operation rate rises sharply as oil mills work hard to keep pace with delivery speed of downstream companies before China’s National Day. The crush volume of soybean in domestic oil mills totals 1,994,800 tonnes (soybean meal 1,575,892 tonnes and soybean oil 379,012 tonnes), an increase of 51,300 tonnes by 2.63% from 1,943,500 tonnes last week. And the operation rate (capacity utilization) is 56.97%, up by 1.33%% from 55.64% last week. Operation rate may plummet in the next two weeks due to the holiday, with the crush volume falling back to around 1.72 Mln tonnes next week (Week 40) and to 1.70 Mln tonnes in Week 41.
Calculated by the current operation rate, national soybean crush volume in Spetember is forecast to total 7.98 Mln tonnes, lower than 8.25 Mln tonnes last month and 8.24 Mln tonnes of the corresponding period last year.
Till now, domestic soybean crush volume in 2017/2018 (dating from Oct 1st,2017) totals 89,553,372 tonnes, up 1,259,645 tonnes by 1.42% from 88,293,727 tonnes in 2016/2017. In 2018 (dating from Jan 1st, 2018), domestic soybean crush volume amounts to 64,947,752 tonnes, down 645,177 tonnes by 0.98% from 65,592,929 tonnes during the same period in 2017.
Fig.: Soybean Weekly Crush in China (2014-2018)
Details for weekly crush are shown as follows:
