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Crush Margin Estimates for Cottonseed in Main Producing Regions of China--4/27/2020

2020-04-27 www.cofeed.com
Regions Income (CNY/tonne) Expenditure  (CNY/tonne) Margin
Oil Meal Hull Linters Total Cottonseed Crushing
Northwest Shandong 5,400  2,820  1,330  3,500  2,505  2,540  220 -254.9
Southwest Shandong 5,625  2,780  1,400  3,500  2,528  2,540  240 -252.5
Hebei 5,650  2,880  1,450  3,550  2,608  2,540  200 -132
Henan 6,000  3,150  1,400  3,500  2,691  2,360  220 111
North Xinjiang 5,300  2,600  960  2,516  2,280  180 56
South Xinjiang 5,300  2,600  1,050  2,543  2,280  190 73
National Average 5,585  2,860  1,338  3,540  2,541  2,548  210 -217 
Remarks
1. Cottonseed is calculated by the market price.
2. Delinted cottonseed in Xinjiang, and raw cottonseed in other regions.
3. Total Income includes soapstock.
4. The margin estimate is calculated by intraday cottonseed prices, so the cost may have some difference if mills use their stockpiles.
5. Nationwide Average is the average of all provinces in China.