As operation rate keeps low for the Spring Festival, soybean crush this week (Feb. 9th-15th) totals 511,300 tonnes (meal 403,927 tonnes and oil 97,147 tonnes), an increment of 488,200 tonnes by 2113.4% from 23,100 tonnes last week. Meanwhile, operation rate (capacity utilization) has gone up by 13.77 percentage points to 14.42% from 0.65% last week, and it will gradually recover to a normal level with a weekly crush volume of 1.54 Mln tonnes next week and 1.75 Mln tonnes in week 9.
Last week (Feb 2nd-8th), soybean crush nationwide totals 23,100 tonnes (meal 18,249 tonnes and oil 4,389 tonnes), down 1,318,900 tonnes by 98.27% from 1,342,000 tonnes in the previous week. And the operation rate reduced by 37.21 percentage points from 37.86% to 0.65%.
Soybean crush volume is estimated to be 4,770,000 tonnes in February, below 7,12,000 tonnes last month but above 4,250,000 tonnes of the same period of last year, for the last Spring Festival was in the middle of February.
As of this week, national soybean crush in 2018/2019 (as from Oct. 1st, 2018) totals 30,953,085 tonnes, down 4,846,863 tonnes by 13.34% from 35,769,948 tonnes of the same period last year. In 2019 (as from Jan. 1st, 2019), national soybean crush amounts to 7,801,685 tonnes, down 3,567,573 tonnes by 31.37% from 11,369,228 tonnes in 2018.
Fig.: Soybean Weekly Crush in China (2015-2019)
Details for weekly crush are shown as follows:
