China’s Soybean Crush Weekly (Week 45, 2018)
This week, operation rate in some large oil mills in East China has dropped sharply after a group of environmental inspectors made their entry to Jiangsu for the China International Import Expo (CIIE) in Shanghai, in addition to soybean shortage or maintenance in some other oil mills, so the overall operation rate for soybean has experienced a significant decline this week. Soybean crush volume in domestic refineries totals 1,697,400 tonnes (meal 1,340,946 tonnes and oil 322,506 tonnes), down 167,700 tonnes by 8.99% from 1,865,100 tonnes last week. And the operation rate (capability utilization) is 48.46%, down by 4.79% from 53.25% last week. After a series of taking delivery urges and production limitation, some mills, facing swollen inventory of soybean meal or being limited or stopped for the CIIE, will resume their normal production entering mid-November. The crush volume will pick up fractionally to around 1.79 Mln tonnes next week (week 46), and to 1.85 Mln tonnes in week 47.
Till now, domestic soybean crush volume in 2018/2019 (dating from Oct 1st, 2018) totals 10,537,785 tonnes, up 438,087 tonnes by 4.33% from 10,099,698 tonnes a year earlier. In 2018 (dating from Jan 1st, 2018), domestic soybean crush volume amounts to 75,976,650 tonnes, up 73,651 tonnes by 0.09% from 75,902,999 tonnes of the same period in 2017.
Fig.: Soybean Weekly Crush in China (2014-2018)
Details for weekly crush are shown as follows:
