China’s Soybean Crush Weekly (Week 2, 2019)
Operation rate for soybean crush has been dropping this week (Jan. 5th-11th), for several oil mills have halted for swelling soybean meal inventories or maintenance. Specifically, national soybean crush totals 1,476,600 tonnes (meal 1,166,514 tonnes and oil 280,554 tonnes), a reduction of 94,700 tonnes by 6.02% from 1,571,300 tonnes last week. Meanwhile, operation rate (capacity utilization) has went down by 2.67 percentage points to 41.66% from 44.33% last week. The crush volume will rise back to around 1.59 Mln tonnes next week and to 1.70 Mln tonnes in week 4 amid reduced pressure of soybean meal stocks.
So far, national soybean crush in 2018/2019 (as from Oct. 1st, 2018) totals 25,525,885 tonnes, down 399,900 tonnes by 1.31% from 25,865,785 tonnes of the same period last year. In 2019 (as from Jan. 1st, 2019), national soybean crush amounts to 2,374,485 tonnes, down 644,693 tonnes by 21.3% from 3,019,178 tonnes in 2018.
Fig.: Soybean Weekly Crush in China (2015-2019)
Details for weekly crush are shown as follows:
