As operation rate has presented a sharp drop this week for the forthcoming Spring Festival holiday, soybean crush this week (Jan. 26th-Feb. 1st) totals 1,342,000 tonnes (meal 1,060,180 tonnes and oil 254,980 tonnes), a reduction of 519,400 tonnes by 27.9% from 1,861,400 tonnes last week. Meanwhile, operation rate (capacity utilization) has declined by 14.65 percentage points to 37.86% from 52.51% last week. Overall operation rate will remain low over the Spring Festival holiday with large drops in the next two weeks. In this case, soybean crush volume will hover around 30,000 tonnes and 760,000 tonnes, and as a comparison, it was 860,000 tonnes of the same period last year.
Soybean crush volume totals 7,090,000 tonnes in January, below 7,600,000 tonnes last month and 8,280,000 tonnes of the same period of last year.
So far, national soybean crush in 2018/2019 (as from Oct. 1st, 2018) totals 30,418,685 tonnes, down 2,808,013 tonnes by 8.45% from 33,226,698 tonnes of the same period last year. In 2019 (as from Jan. 1st, 2019), national soybean crush amounts to 7,267,285 tonnes, down 1,558,693 tonnes by 17.66% from 8,825,978 tonnes in 2018.
Fig.: Soybean Weekly Crush in China (2015-2019)
Details for weekly crush are shown as follows:
