China’s Soybean Crush Weekly (Week 14, 2020)
As mills are lowering operation rates due to soybean shortages this week (Mar. 28-Apr. 3), soybean crush at domestic mills totals 1,438,400 tonnes (meal 1,136,336 tonnes and oil 273,296 tonnes), down 37,700 tonnes or 2.55% from 1,476,100 tonnes in the previous week. Meanwhile, operation rates (capacity utilization) are 41.43%, down 1.08 percentage points from 42.51% in the previous week. Soybean crush will fall further to around 1.35 mln tonnes next week, but will rise to 1.60 mln tonnes that following week as there will be more soybean cargoes arriving at ports, according to Cofeed.
As of this week, soybean crush nationwide totals 41,434,214 tonnes in the soybean crop year of 2019/20 (from October 1st, 2019), down 742,521 tonnes or 1.76% from 42,176,735 tonnes of the same period last year. In calendar year of 2020 (from Jan. 1st, 2020), national soybean crush amounts to 19,407,800 tonnes, up 382,45 tonnes or 2.01% from 19,025,335 tonnes of the corresponding period in 2019.
Fig.: Soybean Weekly Crush in China (2016-2020)
Details for weekly crush by region and by group are shown as follows:
