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Processing Margin Estimates for DDGS in Corn Ethanol Enterprises of China--4/28/2020

2020-04-28 www.cofeed.com
Product Province Corn Price Ethanol Price Processing Fee DDGS Price Margin
(CNY/tonne)
Domestic DDGS Jilin 1900 5100 1100 2010 9
Heilongjiang 1890 5000 1100 2000 -70
Hebei 2050 5300 1050 2000 -200
Henan 2130 5400 1050 2210 -162
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 differences due to various scales of factories.
3. Margin is calculated with the intraday corn price, rather than that of the inventory, so there may also be some differences from actual margin.