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China DDGS Processing Margin Estimates in Some Production Regions-16/1/2020

2020-01-16 www.cofeed.com
Product Province Corn Price
(RMB/tonne)
Ethanol Price
(RMB/tonne)
Processing Fee
(RMB/tonne)
DDGS Price
(RMB/tonne)
Margin
(RMB/tonne)
China DDGS Jilin 1,700 4,950 1,100 1,690 187
Heilongjiang 1,655 4,800 1,000 1,650 238
Hebei 1,885 5,050 1,050 1,600 -295
Henan 1,930 5,100 1,050 1,810 -202

Remarks:
1. Processing Fee is the fee for three tonnes of corn, and the margin is from one tonne of ethanol.
2. Margin is estimated at the average level in this industry, and there may be some difference due to different size of factories.
3. Margin is calculated with the intraday corn price, rather than the inventory cost, so there may also be some difference from actual margin.