Soybean Oil Stocks and Amounts in Outstanding Contracts in China (Week 45, 2018)
According to Cofeed, this week (as of Nov. 9th), details of soybean oil stock and amounts in outstanding contracts are as follows:
Unit: 0’000 tonne
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.
Soybean oil stocks keep declining this week due to a reducing output. As of November 9th, the inventory of soybean oil totals 1,818,400 tonnes, down 29,600 tonnes by 1.6% from 1,848,000 tonnes last week, yet up 78,400 tonnes by 4.51% from 1,740,000 tonnes month-on-month, and up 215,400 tonnes by 13.44% from 1,603,000 tonnes year-on-year. And the mean of the same period in recent five years is 1,355,800 tonnes.
Fig.: China’s Soybean Oil Stocks in Recent Years
