Soybean Oil Stocks and Amounts in Outstanding Contracts in China (Week 48, 2018)
According to Cofeed, this week (as of Nov. 30th), details of soybean oil stock and amounts in outstanding contracts are as follows:
Unit: 0’000 tonne
This week (Nov. 24th-30th), operation rate has dropped slightly, for some oil mills have had to halt for swelling soybean meal inventories under slow shipment and some others have stopped for maintenance. The crush volume of soybean in oil mills nationwide totals 1,690,000 tonnes (meal 1,335,100 tonnes and oil 32,110 tonnes), down 4,800 tonnes by 0.28% from 1,694,800 tonnes last week. The operation rate (capability utilization) is 48.25%, down by 0.13% from 48.38% last week. The crush volume will average at around 1.70 Mln tonnes in the next two weeks.
Soybean oil stock continues to reduce this week, for its output has decreased with the drop in operation rate. As of November 30th, the inventory of soybean oil totals 1,785,000 tonnes, down 17,000 tonnes by 0.94% from 1,802,000 tonnes last week, down 70,000 tonnes by 3.77% from 1,855,000 tonnes month-on-month, yet up 101,300 tonnes by 6.02% from 1,683,700 tonnes year-on-year. And the mean of the same period in recent five years is 1,343,400 tonnes.
Fig.: China’s Soybean Oil Stocks in Recent Years
